Landlords of Paperchase face more losses as the stationer considers another pre-pack administration.
The stationery chain has hired advisers from Begbies Traynor Group and PwC, and could be bought through a second pre-pack administration in two years, just six months after its last buy-out.
Paperchase was put through a pre-pack administration in January 2021 after its sales were knocked by the government’s pre-Christmas lockdown. The company was sold back to its secured creditor Permira Debt Managers in a deal that saved 97 of its 125 stores. Landlords were forced to renegotiate lease terms as part of the arrangement.
