Paperchase to be snapped up by retail entrepreneur Steve Curtis

25th August 2022

Georgia Wright

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// Stationary retailer Paperchase is set to be bought by a consortium led by Steve Curtis and backed by Retail Realisation

// Curtis is said to be planning to increase the number of stores from 100 to 150 in the coming years

Paperchase is being sold to a consortium led by retail entrepreneur Steve Curtis, backed by Retail Realisation, Sky News has reported.

Curtis, an operating partner at the turnaround investor Rcapital, is fronting a consortium which has struck a deal to acquire the business and sources have told Sky that the deal was expected to be confirmed before the end of the week.

Last month the former owner of HMV, Hilco Capital joined a line-up of interested bidders attempting to acquire the stationery retailer however Curtis has seen off the competition.

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Retail Realisation, an industry advisory firm with which Curtis and Rcapital are affiliated, is also involved in the deal.

Back in April Paperchase owners called in advisers to oversee a sale, a year after it fell into administration.

Paperchase trades from about 100 stores, and Curtis is said to back an existing management plan to increase that number to approximately 150 in the coming years.

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