Paperchase at the Broadway may be saved after a rescue deal was secured
HIGH street stationery chain Paperchase, which has a store in Bradford's Broadway centre, has been saved in a rescue deal after going into administration.
The deal which will preserve around 1,000 jobs and the majority of stores after the retailer, which sells stationery, cards and gifts tumbled into administration.
However, the high street card retailer said 37 of its 127 stores will shut their doors permanently despite the move. It's currently unclear which stores will be axed.
Administrators revealed that newly formed company Aspen Phoenix Newco, which backed by Permira Debt Managers, is to take control of the retailer.