Buzz People

Paperchase near administration

Stationery chain Paperchase is on the brink of administration after most of its stores were forced to close over the Christmas period.
The firm has filed a notice to appoint administrators, a move that will give it breathing space from its creditors while it works out a rescue plan.
The company has 127 stores and about 1,500 employees.
The second lockdown in November came at a crucial period for the firm, which makes a high proportion of sales then.
Just under half its sales, 40%, come from trade in November and December.
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