Office stationery brand Staples is to disappear from the UK high street after its US owner sold the struggling business.
The UK arm of American firm Staples - which employs around 1,100 staff across 106 stores in Britain - has been bought by restructuring specialist Hilco which said it would phase out the UK brand over the coming months.
There are Staples stores in Burrfield Retail Park, Portsmouth, and in Broadcut Retail Park in Fareham.
Plans for the store estate and the impact on staff are not yet known.
Paul McGowan, of Hilco Capital, said: ‘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.’