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Retail & Consumer

Paperchase store closures: list in full of 27 shops shut for good amid rescue deal

The popular stationery retailer was rescued in a pre-pack deal last month but not all the stores made the cut

Paperchase in Manchester is one of the stores which have been closed permanently(Image: Manchester Evening News)

A raft of Paperchase shops across the º£½ÇÊÓÆµ have brought down their shutters for good, following a pre-pack deal to save the retailer.

Paperchase was saved last month when it emerged a deal had been secured to keep the majority of its shops open.

The company collapsed into administration at the start of the year, after nationwide lockdown restrictions robbed it of its most important trading period.

The company was sold weeks later in a pre-pack deal by administrators PwC saving around 1,000 jobs, when newly formed company Aspen Phoenix Newco, which is backed by Permira Debt Managers, took control of the firm.

The company employed 1,278 staff across its store portfolio, head office function and its distribution centre.

The company operates as a retailer of greeting cards, wrap, gifts and stationery from sites across the º£½ÇÊÓÆµ and also operates concessions in a number of department stores including House of Fraser, Selfridges, and Fenwick, and through various Next stores.

However, around 270 jobs have still been lost following the permanent closure of 27 º£½ÇÊÓÆµ stores.

PwC has published the list of shops which have brought down the shutters permanently around the º£½ÇÊÓÆµ, and more than half are based in London.