Retail Crisis: 14 Store Closures a Day and 5,000 Shops Vanish in 2023
Lead: Retail apocalypse strikes as 14 stores shut down daily in 2023, leaving 5,000 shops closed nationwide. Amid a...
Paperchase
Paperchase Announces Store Closures and Job Cuts
In a blow to stationery lovers, Paperchase's remaining 106 stores will close, affecting 900 employees. Despite Tesco acquiring the...
Retail Job Losses and Store Closures Continue in 2023
In a recent report by the Centre for Retail Research, nearly 15,000 retail jobs have been lost this year...
Paperchase Unsecured Creditors Face £20m Bill Amid Second Collapse
In a blow to Paperchase's unsecured creditors, they are set to receive only a 2.52% dividend from the sale...
Tesco Acquires Paperchase IP Amid Uncertainty for Stores and Staff
Tesco acquires Paperchase's intellectual property and brand in a pre-pack deal, but not its 106 stores, leaving 820 staff...
Tesco on the Verge of Acquiring Paperchase Amidst Financial Struggles
Tesco is on the brink of acquiring stationery retailer Paperchase, with talks reportedly in advanced stages. The deal could...
Paperchase Rescued by Permira Deal Amidst Pandemic Struggles
In a major rescue deal led by private equity giant Permira, the majority of Paperchase stores are set to...
Paperchase Calls in Administrators Amid Covid-19 Impact on Sales
UK-based stationery store chain Paperchase has reportedly called in administrators from PwC due to a significant drop in sales...
Paperchase’s CVA Proposal Approved by Creditors: Store Rent Reductions and Restructuring Plans Ahead
TV Anchor: In a major development, Paperchase's creditors have approved its proposed company voluntary arrangement (CVA), allowing the stationery...
Credit Insurer Reduces Coverage for Paperchase Amid Profit Slump
Paperchase, the UK stationery retailer, faces financial challenges as credit insurer Euler Hermes reduces its cover following a significant...