PAPERCHASE has collapsed in administration putting more than a hundred stores and jobs at risk.
The stationery retailer announced that despite “its best” it has not received any viable offers.
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It comes after reports Paperchase was in talks to close pre-pack administration.
A statement from the Joint Administrators said: “On January 31, 2023, Mark Fry, Kirstie Provan and Gary Shankland, of Begbies Traynor, were appointed Joint Administrators of Aspen Phoenix Newco Limited, trading as Paperchase.
“Unfortunately, despite an extensive sales process, no viable offers have been received for the company, or its business and assets, on a going concern basis.
“However, there is significant interest in the Paperchase brand and associated intellectual property.”
This means the business can be sold to a new buyer, but stores and jobs may be lost.
Paperchase has 134 branches, dozens of which are located in other stores such as Next one.
Paperchase also fell into administration two years ago, with the closure of 37 stores.
The chain then had 1,500 employees.