The parent firm of the chain may be appointing insolvency practitioners from Begbies Traynor.
Paperchase has shops in Telford and the Merry Hill shopping centre. It also has concessions in major Next stores including at Wolverhampton and Wednesbury.Discussions between Paperchase’s owner and potential buyers are ongoing, but a pre-pack administration is the most likely outcomeThere have been weeks of talks with prospective buyers, after PricewaterhouseCoopers was appointed to find new backers.
The chain was taken over in August by Steve Curtis, an experienced retail investor who has been involved with Tie Rack and Jigsaw.Paperchase, which trades from about 100 stores, previously underwent a pre-pack administration in January 2021. Permira Credit, the previous owner, had invested in Paperchase's digital offering as well as new shop openings and executive recruitment since its last brush with insolvency.Paperchase has declined to comment.
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