Paperchase near administration
About 9 Months, 2 Weeks, 3 Days, 6 Hours, 35 Minutes ago.
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.