Such a difficult time for so many businesses
Paperchase is still seeking a possible new buyer for the troubled high street brand - which recently relocated in Nottingham. There were reports earlier this month that the stationery company had lined up administrators less than six months after the last buyout.
It confirmed that it had retained Begbies Traynor and PwC to advise on "strategic options" which may include the sale of the business to new owners. Talks are thought to be ongoing with a number of "interested parties".All stores are operating as normal during this time, including the Nottingham branch which is open for business. The shop recently moved from Middle Pavement to Clumber Street in August last year amid the last buyout.
The brand has had many different owners since then, including the former bookshop Borders and WHSmith. It currently employs 820 staff with 100 outlets across the UK and Ireland. It has been a difficult period for retail as sales have dipped amid an ongoing cost of living crisis, recession and rising operating bills. This follows two years of Covid restrictions which saw many shops forced to close and rely on online sales. Many are struggling to bounce back after the pandemic.
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