Stationery chain Paperchase is on the brink of collapse and could appoint administrators as early as tomorrow.
The company has two Dublin locations, in Dundrum Town Centre and Arnotts, with its products also sold through Eason and online. According to reports insolvency practitioners from Begbies Traynor could be in place by Tuesday.
Discussions are still underway with a potential buyer but Sky News is saying that focus for shareholders is on a pre-pack administration deal. It's unknown how this could affect its 101 stores both here and in the UK.
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Administrators were also appointed to the chain in January 2021. This was a result of the Covid-19 pandemic leading to a fall in sales due to a severe drop in footfall.
While a rescue deal was put in place by newly-formed company Aspen Phoenix Newco, which was backed by Permira Debt Managers, there are questions surrounding whether it could survive another administration process.
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