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The high street meltdown continues with stationery retailer Office Outlet - which has stores in Truro, Plymouth, Torquay and Exeter - being the latest big name to go into administration.

Formerly known as Staples, the high street chain revealed it had entered a Company Voluntary Arrangement (CVA) proposal to restructure its UK store estate as part of an ongoing turnaround strategy in August last year.

Now, it has said that Richard Michael Hawes and Daniel Francis Butters were yesterday appointed Joint Administrators of SUK Retail Limited, trading as Office Outlet and SUK Oldco Limited (“the Companies”).

Office Outlet has 90 stores around the UK and The future of its stores in Devon and Cornwall has not yet been confirmed.

However, the firm's website is promoting a huge sale with prices on office furniture, computer accessories and stationary supplies slashed, and range of 3-for-2 details.

Back in August 2018, the chain said it had spent the past two years performing an operational restructuring which, it said, “significantly improved” store performance.

But bosses said there had been a “significant decline in footfall” at out-of-town retail parks, and so a proposal to restructure its fixed costs was needed to ensure long-term profitability.