A MAJOR high street shop has confirmed that it will close 106 shops within weeks.
The administrators of Paperchase have confirmed that its stores will shut forever after they failed to find a buyer.
It comes as hundreds of high street brands are closing shops this yearPA
The move will see the closure of 106 high street shops, resulting in around 900 redundancies.
The stationery chain first collapsed into administration on January 31.
While Tesco stepped in and bought the Paperchase brand, the future of its stores remained uncertain.
A potential sale of the shop is now off the table according to administrators from Begbies Traynor, after failing to find an interested buyer.
Now the administrators have confirmed that Paperchase shops will start closing within weeks as their stock levels reduce.
The stationer launched a major closing down sale which initially started with 20% off before being hiked to 50%.
A spokesperson for Begbies Traynor said it does not anticipate “that there will be any further material sale of all or part of the remaining Paperchase business”.
“The joint administrators are continuing to trade the majority of paperchase stores for the purpose of realising the stock held.
“It is anticipated that a gradual reduction in the number of stores operated will occur over the coming weeks as stock levels are reduced.”
The exact date when each store will close will vary and depends on how much stock is left to sell.
It comes after Paperchase stopped trading online last Friday.
For now, stores remain open as the retailer continues to heavily discount and get rid of its remaining stock.
You can find your nearest Paperchase using the store locator on its website or you can order home directly.
Remember that all stock will be subject to availability.
The company opened its first store in 1968 in Kensington, London.
Here’s a full list of Paperchase stores closing for good:
AltrinchamArnottsBasingstokeBathBatterseaBelfastBerkhamstedBeverleyBirmingham Grand CentralBirmingham New StBirmingham SelfridgesBishopsgateBishops StortfordBluewaterBracknellBraeheadBrighton Bristol Bromley Bury Bury St EdmundsByres RoadCambridge Canterbury Cardiff St DavidsCheapsideChelmsford Cheshire OaksChesterChichester Chiswick ColchesterCribbs CausewayDerby DundeeDundrum Durham Edinburgh Edinburgh MorningsideExeterFinchley RoadForestsideGlasgow BuchananGuernseyGuildfordHarrogateHenley on ThamesHerefordHitchinIslingtonJerseyKings Cross Station Kingston LakesideLeamington SpaLeeds Commercial StreetLeicester LewesLincoln London BridgeMaidstone ManchesterMarble ArchMeadowhall Merry Hill Metro CentreNewbury NewcastleNext AintreeNext Birmingham Junction 9 Next Bolton Next Bournemouth Next Camberley Next Crawley Next Enfield Next Gloucester Next Handforth Dean Next Hanley Next Ipswich Next Kirkcaldy Next London Colney Next Luton Next Maidstone Next Manchester ArndaleNext Norwich Next Oxford StreetNext PlymouthNext Selly OakNext Shoreham Next Solihull Next Straiton Next Wolverhamptom Next York Northcote RoadNottingham OxfordPerthPeterborough Plymouth Putney RingwoodRushdean LakesSailsbury Sevenoaks Sheffield Silverburn Solihull Southampton StainesSt Albans St Andrews St Pancras CircleSt Pancras Station Street OutletSwindon Taunton TelfordTrafford Centre SelfridgesTunbridge WellsVictoria Station Walton on ThamesWandsworthWattington Waterloo Station WatfordWhiteley VillageWhite Rose LeedsWimbledon WinchesterWindsorWokingWorcesterYorkYork Outlet
It comes as nearly 15,000 jobs have been axed since the start of the year as dozens of retailers collapsed or were restructured.
Retailers have been feeling the pinch since the pandemic while shoppers are cutting back spending due to soaring inflation.
From the Scottish clothing brand M&Co to the wellies store Joules, a number of familiar brands went bust in 2022.
We’ve listed all of shops and chains closing down this year.