Credit: Alena Veasey/Shutterstock Paperchase Calls In UK Firm for Administration
The high street stationery favourite is the latest U.K. retailer to face collapse during the pandemic.
January 06, 2021 at 05:21 AM
2 minute read
U.K. law firm Browne Jacobson is acting on behalf of U.K. stationery company Paperchase as it files for administration, becoming the latest high street retailer to succumb to the effects of the coronavirus pandemic.
Paperchase faced difficulty even before the pandemic struck, and in early 2019 pushed ahead with its plans for a company voluntary agreement (CVA), with a view to "exiting stores that were unprofitable" according to a filing by auditors KPMG. U.S. heavyweight Kirkland & Ellis led the process.
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