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Stationery chain Paperchase is reportedly on the brink of administration after lockdown measures over Christmas slashed sales.
The company was forced to shut its stores over the Christmas period, with the measures putting "unbearable strain on retail businesses across the country".
A spokesman told the Daily Telegraph: “Paperchase is not immune despite our strong online trading.
"Out of lockdown we’ve traded well, but as the country faces further restrictions for some months to come, we have to find a sustainable future for Paperchase.
“We are working hard to find that solution and this notice of intention is a necessary part of this work.
"This is not the situation we wanted to be in. Our team has been fantastic throughout this year and we cannot thank them enough for their support.”
The Daily Star has approached Paperchase for comment.
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