Paperchase: Struggling stationery chain expected to appoint administrators today – reports
Paperchase, the high street stationery retailer, is believed to be on the verge of appointing administrators.
The chain store’s parent company is reportedly in the process of bringing in insolvency practitioners from Begbies Traynor, according to Sky News.
Paperchase’s shareholders are still holding out for a buyer but rumours are they are looking for a so-called pre-pack deal, where assets are sold off as soon as administrators are called
Paperchase was bought out last August by retail investor Steve Curtis, having already been subject to a pre-pack administration in January 2021
It operates from 100 stores, and wo years ago employed nearly 1,300 people.
More to follow.