Paperchase giftwrapped for £50m saleBy Richard Fletcher in The Telegraph
16/05/2008
Borders, the troubled US retailer, has appointed bankers to conduct a strategic review of Paperchase, a process that is expected to result in the sale of the stationery chain.
Retail watchers believe that the company - which operates 114 stores and concessions in the UK - could be sold for up to £50m.The sale will be a major test of the appetite for retail businesses in the current economic climate.According to accounts filed at Companies House, UK-based Paperchase made a profit of £4.3m on sales of £47.1m in the year to February 3, 2007.
The full story at the Telegraph online.
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