Shoppers spot huge closing down sale as beloved high street shop prepares to shut 106 locations
SHOPPERS have spotted closing down sales in Paperchase stores as the high street giant prepares to shut 106 locations.
The stationery retailer collapsed into administration last week after it failed to find a buyer.
Tesco then bought the rights to the brand and plans to sell Paperchase items in stores.
But administrators are planning to liquidate the business, closing all of the 106 stores and putting 1,000 jobs at risk.
When a business is liquidated, they will look to sell stock for as much as possible to pay back creditors.
Shoppers have already spotted big yellow posters in shop windows advertising sales in stores.
Fans spotted posters in Paperchase’s store in Henley on Thames, in Oxfordshire, read: “Store closing down” and “Everything must go”.
Shoppers have posted on social media that some items have had more than 50% knocked off the original price tag.
One shopper posted on the Extreme Couponing and Bargains UK Facebook group that she got 10 cards for £5 at her local Paperchase store in York’s Designer Outlet.
She got four pop-up Pina Colada cards for £2.50 down from £6.50.
She posted her haul and said: “Sad for Paperchase and their employees.”
Another posted three notebooks she got in the closing down sales in stores and said: “Will be really sad to see the stores close.”
The retailer is also running a sale online with almost 20% off everything online.
Stores may start to disappear off the high street within weeks but the process could take up to two months.
Shoppers with gift cards have been warned to redeem them as soon as possible as they won’t be accepted after two weeks.
You can see the full list of Paperchase stores below:
- Altrincham
- Arnotts
- Basingstoke
- Bath
- Battersea
- Belfast
- Berkhamsted
- Beverley
- Birmingham Grand Central
- Birmingham New St
- Birmingham Selfridges
- Bishopsgate
- Bishops Stortford
- Bluewater
- Bracknell
- Braehead
- Brighton
- Bristol
- Bromley
- Bury
- Bury St Edmunds
- Byres Road
- Cambridge
- Canterbury
- Cardiff St Davids
- Cheapside
- Chelmsford
- Cheshire Oaks
- Chester
- Chichester
- Chiswick
- Colchester
- Cribbs Causeway
- Derby
- Dundee
- Dundrum
- Durham
- Edinburgh
- Edinburgh Morningside
- Exeter
- Finchley Road
- Forestside
- Glasgow Buchanan
- Guernsey
- Guildford
- Harrogate
- Henley on Thames
- Hereford
- Hitchin
- Islington
- Jersey
- Kings Cross Station
- Kingston
- Lakeside
- Leamington Spa
- Leeds Commercial Street
- Leicester
- Lewes
- Lincoln
- London Bridge
- Maidstone
- Manchester
- Marble Arch
- Meadowhall
- Merry Hill
- Metro Centre
- Newbury
- Newcastle
- Next Aintree
- Next 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 Arndale
- Next Norwich
- Next Oxford Street
- Next Plymouth
- Next Selly Oak
- Next Shoreham
- Next Solihull
- Next Straiton
- Next Wolverhamptom
- Next York
- Northcote Road
- Nottingham
- Oxford
- Perth
- Peterborough
- Plymouth
- Putney
- Ringwood
- Rushdean Lakes
- Sailsbury
- Sevenoaks
- Sheffield
- Silverburn
- Solihull
- Southampton
- Staines
- St Albans
- St Andrews
- St Pancras Circle
- St Pancras Station
- Street Outlet
- Swindon
- Taunton
- Telford
- Trafford Centre Selfridges
- Tunbridge Wells
- Victoria Station
- Walton on Thames
- Wandsworth
- Wattington
- Waterloo Station
- Watford
- Whiteley Village
- White Rose Leeds
- Wimbledon
- Winchester
- Windsor
- Woking
- Worcester
- York
- York Outlet
Paperchase opened its first store in 1968 in Kensington, London.
In 2010, it launched its website and its first standalone store in Ireland in Dundrum, Dublin, in 2020.
Gift cards – your rights explained
When a company goes into administration, the people appointed to manage the process can decide whether to allow the use of gift cards or not.
It means you’ll need to keep an eye on the administration process to see what your rights are.
The administrators are allowed to stop accepting gift cards at any point.
If the administrators later decide that you can’t use your vouchers, you should register a claim with the administrators for the value of the vouchers.
This also applies if the company can’t be saved through administration and is later liquidated.
However, you may not get this money back if other creditors are owed money too. You may also only get a portion of the money back.
If the voucher or amount put on a gift card was for more than £100, then it may be possible to claim the money back if it was purchased with a credit card.
This is because the card company is jointly liable under Section 75 of the Consumer Credit Act 1974.
If the voucher was a gift, then you’d need to ask the person who bought it for you to claim the money back.
It comes as popular fashion retailer M&Co is set to close 170 of its high street shops.
The brand has been bought by Yours Clothing, according to Drapers, but not the stores.
An insider source also told The Sun that the sale of the brand means M&Co’s 170 shops will close forever, putting 1,910 jobs at risk.
Major burger chain Byron Burger also recently fell into administration and is set to close nine restaurants immediately.
Further popular chains including Las Iguanas, Cafe Rouge and Bella Italia also fell victim to the pandemic.