Paperchase administration: High street chain lines up administrators amid search for potential buyer

It has been reported nationally that the high street chain has hired advisers from Begbies Traynor Group (BTG) and PwC to assess options for the future of the company.

Paperchase has 100 stores nationwide including in Chichester, Shoreham, Lewes, Brighton and Crawley.

A spokesman for Paperchase said: “We confirm that we have retained BTG and PwC to advise Paperchase on strategic options, including the sale of the business as a going concern to new owners. Talks are continuing with a number of interested parties.

“All Paperchase stores and the website will continue to trade as normal during this period.

“We can’t comment further on this process until discussions with interested parties have been concluded.”

This is the second time in two years that the business has fallen into administration, when it closed 37 stores.

It was last bought in August 2021 by Steve Curtis, an experienced retail investor.

Retail investor Curtis, who has been involved with Tie Rack and Jigsaw, then sold four months later, a process being managed by PwC.

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