The high street stationery chain Paperchase is being put up for sale 15 months after it became one of the myriad retail casualties of the pandemic.
Sky News has learnt that Permira Credit, which has controlled Paperchase since a pre-pack administration in January 2021, has appointed advisers to oversee a sale following a number of unsolicited enquiries from potential buyers. The approaches for the retailer come after an improvement in its financial and operating performance, aided by the closure of a number of stores as part of last year's insolvency process.
People close to the company said its new owners had invested in Paperchase's digital offering as well as new shop openings and executive recruitment since its brush with administration. PricewaterhouseCoopers, which handled the pre-pack process, is understood to have been hired to oversee the auction.At the time of its financial collapse, Paperchase employed nearly 1300 people, and traded from more than 125 sites across the UK.More from Business