Yet another major retailer faces a fight for survival after revealing it has gone into administration.

Office Outlet, which has stores in Ashford and Canterbury, says outlets will remain open while the search for a buyer begins.

The stationery chain was formerly part of the Staples group.

After revealing it was struggling, it today confirmed Deloitte had been appointed as administrators in an effort to try and keep the business a going concern.

It employs, nationwide, some 1,200 people.

Richard Hawes, joint administrator, said: "In addition to a general downturn in trading as a result of the ongoing decline in the stationery market and UK retail in general, the company has recently experienced a reduction in credit from key suppliers, given the economic outlook which has severely impacted the financial position of the company.

"We are hopeful a buyer can still be found for the business in the coming weeks and we will continue to trade the business with that aim in mind."

Chief executive Chris Yates added: "Over the last two years the business has been transformed from the heavily loss-making old Staples business to a near break-even modern multichannel retailer.

"However, additional growth capital was required to continue delivery of the next stage of the management buyout business plan. Despite being highly impressed by the Office Outlet story potential investors have held back due to retail sector sentiment and the general level of uncertainty."

It comes just two months after stationery firm Paperchase revealed it too was struggling.

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