Paperchase appoints administrators amid worst high street job losses in 25 years

Paperchase, the stationery chain with 127 stores  employing 1, 500 employees.

Paperchase said: “ The cumulative effects of lockdown one, lockdown two at the start of Christmas shopping period and now current restrictions have put an unbearable strain on retail business across the country.” The company went through an insolvency process, known as a Company Voluntary Arrangement or CVA almost two years ago to cut costs. The chain has 10 working days to find a solution.

Others who ran into troubled waters during the pandemic include Debenhams which last month ceased trading putting 12, 000 jobs at risk, Arcadia Group which owns Topshop and Dorothy Perkins, has gone into administration putting another 13, 000 jobs at risk, Edinburgh Woollen Mills’ brands’ Peacocks and Jager also in administration in November putting 21, 000 jobs at risk, Oasis and Warehouse fell into administration in mid-April.