More jobs at risk in Sheffield as Paperchase nears administration
More jobs could be lost in Sheffield after a well-known high street shop with two stores in the city confirmed it could fall into administration.
Paperchase, which sells stationery, cards and gifts, has filed a notice to appoint administrators from PwC to advise on its insolvency process.
The company has 127 stores and 46 concessions – including one on Fargate and another in Meadowhall – and employs 1,500 people.
A spokesperson told Sky News: “The cumulative effects of lockdown 1.0, lockdown 2.0 - at the start of the Christmas shopping period - and now the current restrictions have put unbearable strain on retail businesses across the country.
"Paperchase is not immune despite our strong online trading. Out of lockdown we've traded well, but as the country faces further restrictions for some months to come, we have to find a sustainable future for Paperchase.”
Chancellor Rishi Sunak unveiled £4.6 billion worth of grants for hospitality, retail and leisure businesses on Tuesday (5 January).