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Stationers under threat as firm goes into administration

The Harborough branch of a 180-year-old High Street stationery chain is under threat after the business went into administration.

Osborne Stationers - which has 20 shops across the UK, including in Adam and Eve Street - went into administration on Monday.

Administrators at restructuring firm FRP Advisory were appointed and said in a statement they will r eview the financial position of the company and its stores while continuing to manage it as a going concern.

The firm has a rich history with founder Edward Corn Osborne opening the first outlet in 1832 as a printing business on Birmingham New Street.

Today it operates 20 shops, employing 140 staff.

Steven Stokes, partner at FRP Advisory and joint administrator to the Company, said: “We are focused on working with Osbornes’ customers and suppliers while we conduct a thorough sales process of the business to secure its long term future.

“Osbornes is one of the oldest local businesses in the Midlands and has operated in Birmingham’s town centre for just shy of two centuries, enjoying tremendous amount of goodwill and support from all the regional and local communities in which it operates.

“In line with economic challenges facing many high street retail businesses, Osbornes has battled through tough trading conditions over the last few years.

“Recently trading has been particularly hard, with Osbornes, like many other town centre retailers, suffering from further squeezes on consumers’ discretionary spending that has impacted the high street, as well as being in a particularly difficult and competitive sector.

“Despite the continuing support of a loyal customer base, anticipated cash flow problems have prompted the need for the directors to seek the protection of administration whilst the business is restructured and marketed for sale.”

 

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