Bold Bet on Paperchase’s Potential Despite Pandemic Impact
- Retail entrepreneur Steve Curtis acquires Paperchase
- Rcapital turnaround investor buys Paperchase as private investor
- Competition from rivals including Hilco was outbid
- Retail Realisation, an industry advisory firm involved in the deal
- Paperchase put up for auction 18 months after Covid-19 impacted revenues and profits
- Pre-pack administration occurred in January 2021 under Permira Credit’s control
- Current retail estate includes 96 standalone shops and 32 concessions
- Plans to grow chain to approximately 150 stores in coming years
- Revenue forecasted to double between 2021-2024 financial years
Steve Curtis, an operating partner at Rcapital, has acquired Paperchase as a private investor after outbidding rivals like Hilco. Retail Realisation, an industry advisory firm affiliated with Curtis and Rcapital, is also involved in the deal. Paperchase was put up for auction 18 months post-Covid-19’s impact on its revenues and profits, undergoing pre-pack administration in January 2021 under Permira Credit’s control. Curtis supports an existing management plan to grow the store count from current 128 locations to around 150 within years. Revenue is projected to double between 2021 and 2024 financial years.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Steve Curtis’ acquisition of Paperchase, the involvement of Rcapital and Retail Realisation, the previous ownership by Permira Credit, and the plans to grow the chain. It also mentions the current retail estate and revenue forecasts. However, it lacks some specific numbers or details that could make it more informative.
Noise Level: 3
Noise Justification: The article provides relevant information about Steve Curtis’ acquisition of Paperchase and its future plans but lacks in-depth analysis or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector, specifically stationery retailer Paperchase
Financial Rating Justification: The article discusses the acquisition of Paperchase by Steve Curtis and Rcapital, which is related to financial transactions in the retail sector and will impact the future growth and performance of the company.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
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