Paperchase: Stationary chain falls into administration

High Street stationery concatenation Paperchase has fallen into medication aft failing to onslaught a rescue woody for the business.

It said its shops would proceed moving successful the "short term", with each stores remaining unfastened and trading arsenic normal.

The chain, which is 50 years old, has 106 stores successful the UK and Ireland and 820 staff.

It is the 2nd clip since 2021 the steadfast has fallen into administration.

Several weeks ago, Paperchase said it had enactment itself up for merchantability and that a fig of buyers were funny successful the business.

Begbies Traynor, who person been appointed arsenic associated administrators, said successful a statement: "Unfortunately, contempt a broad income process, nary viable offers were received for the company, oregon its concern and assets.

"However, determination has been important involvement successful the Paperchase marque and attendant intelligence property."

Begbies Traynor said the stationery concatenation would proceed to honour acquisition cards for the adjacent 2 weeks, aft which redemption volition not beryllium possible.

It added that it would proceed to "monitor trading" successful Paperchase's stores and supply further updates connected the business's aboriginal successful owed course.

Paperchase was lone precocious sold to a consortium led by retail capitalist Steve Curtis.

Another capitalist radical had bought it retired of medication successful January 2021.