The retailer usually makes 40 per cent of its sales over November and DecemberPaperchase is on the brink of administration after Covid-19 restrictions placed 'unbearable strain' on the card and gift retailer's Christmas sales. Approximately 1,500 jobs and 173 stores are on the line for the retailer, who appointed accountancy firm PwC to handle the administration process, The Telegraph reports. The news followed yesterday's announcement that England has entered a third national lockdown, seeing all non-essential retailers close countrywide. Coronavirus lockdown rules hammered the UK High Street in November as retail sales dropped by 3.8 per cent when compared to October. It was put on the market in 2015 but failed to receive any suitable offers, reports The Telegraph.

Source: Daily Mail January 05, 2021 12:35 UTC