Uncertain future for Norfolk stores as Paperchase faces administration
- Credit: Paperchase
Stationery chain Paperchase, with stores in Norwich, has filed a notice to appoint administrators.
It is the latest retailer struggling after a sales decline because of coronavirus.
The firm, which has 127 stores and 1,500 employees nationwide, hit trouble last May when its Castle Street store in Norwich permanently closed.
It has a concession in the House of Fraser in Norwich and a store in Longwater, Costessey as well as other shops in Bury St Edmunds and Ipswich, Suffolk.
Paperchase launched a company voluntary arrangement (CVA) restructuring in March but saw this heavily impacted by the pandemic.
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Typically, November and December trading account for 40pc of the company's annual sales, but this was hit by lockdown.
A Paperchase spokesman said: "The cumulative effects of lockdown at the start of the Christmas shopping period and now the current restrictions have put unbearable strain on retail businesses across the country."
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