A MAJOR high street chain could be at risk of collapsing as soon as today.
Paperchase is reportedly in talks to secure a pre-pack administration deal.
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It means that the business might be sold to a new buyer – but could see a loss of stores and jobs.
Insiders at the stationary chain told Sky News insolvency practitioners could be appointed on Tuesday.
It comes after plans of selling the business have quickly faded.
However, it is understood shareholders are still in discussions to secure a deal.
Paperchase has 106 branches and over 800 employees across the UK and Ireland.
Until a deal is done it’s unclear how many, if any, stores and jobs could be at risk.
A spokesperson for Paperchase told the Mirror: “The directors of Aspen Phoenix NewCo, which trades as Paperchase, confirm that following interest from a number of parties during the sale process, no decision has yet been taken on the future of the company.
“Paperchase stores and the website will continue to trade as normal during this period.
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“We can’t comment further until the process has concluded.”
All stores are currently still open and its website is still up and running, and accepting orders as well as gift cards.
