Investment behemoth Hilco Capital joins race to snap up Paperchase
Former HMV-owner Hilco Capital has joined the race to snap up Paperchase, according to City sources.
As first reported by Mark Kleinman for Sky News, the prolific investor, which also owns Homebase, is in early stage talks to buy the stationery chain.
Hilco recently bought the beleaguered Cath Kidston, following its Brexit and pandemic downturn.
It is not clear who the other bidders are for Paperchase, but the company faced pre-pack administration in January 2021 and is now being controlled by Permira Credit.
Sky News reports that Permira Credit has invested in the British firm’s digital offerings as well as new shop openings.
Paperchase was just one of the many pandemic casualties in the world of retail, joining Debenhams and the Arcadia Group.
Hilco Capital was not immediately available for comment, while Permira Credit declined to comment.