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140 jobs at risk as 181 year old retailer enters administration 4 December 2013

Osborne Stationers Limited, one of Birmingham’s oldest retailers, has entered administration, putting 140 jobs at risk.

Osbornes traded from 20 leasehold premises across the Midlands and the south west of England.

Having experienced “continued losses” which “led to an inability to restructure the business,” the directors placed the company in administration.
Steven Stokes and Gerald Smith, partners of FRP Advisory LLP, have been appointed joint administrators to Osbornes.

The joint administrators intend to manage the company as a going concern while orchestrating a sale of the business.

Steven Stokes, partner at FRP, 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.

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

 

 

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