Sheffield's Staples is latest retailer set to disappear from city

Staples is selling its UK stores. Photo: N Chadwick / Creative Commons

Staples has reached an agreement to sell its UK retail business and operations to Hilco for 'nominal proceeds'.

The use of the Staples brand will be phased out by the UK retail business over the coming months - including in Sheffield's city centre store on Eyre Street.

Shira Goodman, chief executive officer and president of Staples, said: “Agreeing to sell our UK retail business to Hilco aligns with our go-forward strategy of focusing on our North American and mid-market business and is a meaningful step in that process."

Paul McGowan of Hilco Capital added: “While retail in the UK has been challenged recently, a team led by retail veteran Alan Gaynor will work alongside the existing management team to build a plan for success for the business.”

Other retailers who have announced plans to close their UK shops this year include BHS, Banana Republic and American Apparel.