Paperchase falls into administration, putting 106 shops - including Cambridge outlet - at risk
Paperchase has fallen into administration, putting 106 shops - including its outlet at 20 Market Hill in Cambridge - at risk.
The stationer failed to secure a buyer after being placed on the market by retail veteran owner Steve Curtis.
It has appointed administrators from Begbies Traynor to oversee the insolvency process.
The administrators said: “On January 31, Mark Fry, Kirstie Provan and Gary Shankland, of Begbies Traynor, were appointed as joint administrators of Aspen Phoenix Newco Limited, which trades as Paperchase.
“Unfortunately, despite a comprehensive sales process, no viable offers were received for the company, or its business and assets, on a going concern basis.
“However, there has been significant interest in the Paperchase brand and attendant intellectual property.
“The joint administrators will continue trading the company’s operations in the short term, with all stores remaining open and trading as normal.”