Paperchase poised for sale after wrapping up Christmas season

 
Kasmira Jefford
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Paperchase, led by chief exec Timothy Melgund, has 130 UK stores and 30 outlets overseas
High street stationery chain Paperchase enjoyed a surge in trading over Christmas, paving the way for a potential sale of the business this year.

Primary Capital, which has owned Paperchase since 2010, has hired PwC and Financo to handle a potential sale of the 46-year-old business last year after receiving several bid approaches.

The company is understood to have been waiting for the results of the crucial Christmas period before kicking off a formal sales process.

Group sales reached £28.4m in the five-weeks to 27 December, up 6.5 per cent on the previous Christmas, as shoppers flocked to its stores for cards, wrapping paper and stocking fillers.

Sales at stores open more than a year rose 3.1 per cent while total revenue for the 47 weeks to date has increased by 6.9 per cent to £108.7m.

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