Tuesday, January 17, 2023, 11.54 a.m
According to reports, Paperchase Stationery Group has placed its administrators on alert while it searches for financial backers.
Sky News Mark KleinmanAccording to reports, Begbies Traynor is being prepared to handle any bankruptcy.
Although the company has been battered and bruised by the pandemics and changes to Main Street, Kleinman was assured by city sources that bankruptcy would not be an option.
Sources told Kleinman — who also writes a column for City AM — that the move was a “reasonable contingency plan” for difficult times.
Recent headlines have focused on the company, including the closing of a bailout agreement in January 2021.
In August 2013, it was taken over. By experienced retail investor Steve Curtis.
Curtis, however, put the company up for purchase just four months later.
Paperchase was contacted for comment.
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