Paperchase’s owner remains in talks with potential buyers but a pre-pack administration – possibly as early as Tuesday – is now the likeliest outcome, Sky News understands.
Paperchase, the high street stationery retailer, is close to collapsing into administration as hopes of a solvent rescue deal fade.
Paperchase's shareholders remain in discussions with more than one potential buyer, although insiders said that a sale of the business was now focused on a pre-pack deal, which involves a company's assets being sold immediately after it has fallen into administration.The latest development follows weeks of talks with prospective buyers, after PricewaterhouseCoopers was appointed to find new backers.
Retail Realisation, an industry advisory firm with which Mr Curtis and turnaround firm Rcapital are affiliated, was also involved in last summer's deal. It trades from about 100 stores, and Mr Curtis was said at the time of the most recent takeover to be backing an existing management plan to grow that number to approximately 150 in the coming years.
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