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Intellectual Property Acquisition Opportunity

Office Outlet

Hilco Streambank is seeking offers to acquire the Office Outlet brand and associated intellectual property assets on behalf of Richard Michael Hawes and Daniel Francis Butters of Deloitte LLP as the Joint Administrators of SUK Retail Limited t/a Office Outlet and SUK Oldco Limited (both in Administration) (the "Companies").

BID DEADLINE

Friday, May 17 2019 at Noon BST (British Summer Time)

Background

Richard Michael Hawes and Daniel Francis Butters, as the Joint Administrators of the Companies, have appointed Hilco Streambank to actively seek interested parties with regards to the sale of the Office Outlet intellectual property. 

Office Outlet was a leading UK retailer of office and home supplies, stationery, business technology, furniture and copy and printing services to businesses, homes and schools.

The Office Outlet brand was traded both online and via over 90 stores nationwide, following the acquisition and rebranding of Staples retail stores in 2016.

Office Outlet was positioned as a multichannel business. It operated as both a B2C and B2B retailer, having introduced a business accounts scheme to drive customer retention and loyalty and increase average transaction values. Prior to the Companies' insolvency, Office Outlet customers were able to purchase products in store and online via 'Click & Deliver', 'Click & Collect' and 'Click & Reserve' ecommerce initiatives, as well as using 'Endless Aisle' in-store ordering technology. Office Outlet physical stores are located in prominent high street and retail park locations throughout the UK.

The product range was broad, being comprised of items such as office supplies, stationery, printers, technology, paper, ink, toner, furniture, storage and filing solutions. Office Outlet's Print Centre offered copying and printing services from business cards to large scale exhibition banners as well as specialist services including scanning, binding, laminating, architectural plan printing, shipping through DHL, exhibition supplies, wall art, books covering and instant stamps. The Companies entered the rapidly growing web-2-print market with the Print Centre online digital print offering.

A number of partnerships with complimentary third party brands and new product ranges were recently introduced including Crafters Companion arts and crafts, Card Factory concessions and kikki.K notebooks, dated goods and accessories concessions.

For the 2018 financial year, revenues generated under the Office Outlet brand approached £100m.

This acquisition opportunity offers the buyer the opportunity to enter or expand the Companies' chosen £4bn markets and take advantage of growth, with the stationery market forecast to grow 3.6% in 2019 and the non-grocery segment of the UK value retail market estimated to grow at CAGR of approximately 4% between 2016 and 2021.

Office Outlet

Available Assets

Office Outlet Brand

Office Outlet is a major UK retail brand with a nationwide high street presence. The brand is well-known as a destination for stationery, office supplies and print services. As a customer-centric brand, Office Outlet strove to provide great customer experience and a memorable value proposition. Office Outlet is associated with a wide range of quality products and has established a strong reputation. Office Outlet enjoys a high level of brand awareness amongst UK consumers and businesses. Several million pounds of investment has been made in branding and marketing over the last two years.

Trade Marks

The below registered UK and EU trademarks protect the "Office Outlet" brand name and logos.

Office Outlet Trade Marks

Domain Names

The high-traffic branded domain names officeoutlet.com and office-outlet.co.uk.

Website Content

The Office Outlet transactional website was professionally designed and launched in March 2018. It has over 4.6k Trustpilot reviews and is rated 'Excellent', with an average score of 9. Online revenue of over £6m was generated for the 12 months ending March 2019. The Office Outlet website attracted over 2.5m new users, 800k returning users and 10k subscribers over this period. Circa 9k registered users have been active in the last 12 months. The number of transactions and visitors to the site, since launch, has grown at an exceptional rate. The website featured sophisticated ecommerce functionality, Click & Collect, Click & Reserve and Web 2 Print functionality, store locator, real time online store stock checker and an integrated blog, aiding SEO.

Office Outlet Website

Rights in Social Media Accounts

Office Outlet has active social media accounts with a total of approximately 26k followers:

  • Twitter: @OfficeOutletUK1
  • Facebook: Office Outlet
  • Instagram: @Officeoutletuk1
Office Outlet

Sales Process

Offers are due 17 May 2019 at Noon BST.

All expressions of interest and offers should be directed to Hilco Streambank in writing. A bid submission form for submitting offers is available for download.

Key Terms & Conditions

The Joint Administrators act as Agents of the Companies and without personal liability.

The bidder acknowledges that Hilco acts as an agent for the Joint Administrators who offer for sale only what right, title and interest (if any) the Companies possess in the intellectual property assets. Such sale will be without any warranties, expressed or implied.

The information provided has not been verified by Hilco or the Joint Administrators and bidders are deemed to have carried out their own due diligence.

A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. VAT, if applicable, at 20% will be added to the price. Legal completion to occur within 5 business days of bid acceptance. Hilco Streambank's full Terms and Conditions apply.

Interested Parties

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