January 17, 2023 6.30 pm This story is over 13 months old

Jobs and stores at risk as Paperchase line up administrators

The retailer has a store on Lincoln High Street

By Local Democracy Reporter

High street stationery chain Paperchase is reportedly lining up administrators amid a race to find new backers.

According to Sky News, the retailer has put Begbies Traynor, a professional services firm, on standby to handle a potential insolvency.

Paperchase, which has a store on Lincoln High Street, was put up for sale earlier this month, just four months after its latest change of ownership.

The chain was taken over in August by experienced retail investor Steve Curtis, but it is now being auctioned by accountancy firm PwC.

The company had previously been one of the numerous retail casualties of COVID-19, having undergone a pre-pack administration in January 2021.

Paperchase employed over 1,300 people across more than 125 sites in the UK the last time it faced insolvency. It is unclear how many stores and jobs might be put at risk by another administration process.


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