A deal to save Paperchase will result in the closure of most of its 97 stores.
A transfer of the stationary retailer is expected to be completed by Begbies Traynor and PwC shortly. It is understood that the brand will continue as a largely online business.
Paperchase, which was founded in 1968, was put through a pre-pack administration in January 2021. It was sold back to Permira Debt Managers, its secured creditor, in a fast-track insolvency process that saved most of its stores, but landlords were forced to renegotiate lease terms as part of the arrangement.
