Paperchase 'line up administrators' as four Glasgow stores potentially at risk

Bosses are hunting for a deal to save the chain ✏️ 🖊

Major high street retailer Paperchase is reportedly lining up administrators, with four Glasgow branches at risk.

Bosses at the international stationery supplier are now seeking a deal to save the chain, according to reports,A previous rescue deal allowed many stores to stay open, saving around 1,000 jobs. However, Paperchase has previously fallen into administration, with 90 of its 127 stores sold to new owner Aspen Phoenix NewCo back in April last year, with 37 shutting up shop for good at that time.

The stationery supplier joins the list of businesses struggling in today's financial climate, with the likes of Topshop, Debenhams and more recently M&Co falling victim to the pandemic aftermath and ongoing difficult financial conditions.

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