Borders to sell Paperchase
21/05/2008
Borders is considering selling Paperchase, its upmarket stationery chain, in response to troubled times on the high street.JPMorgan and Merrill Lynch were appointed earlier on this year to conduct a strategic review of Borders' assets, including Paperchase. The administrators are to conduct the sale process as well. Paperchase has a sale tag of up to £80m.Borders is currently considering selling the stationary chain to one of three bidders, HgCapital, Isis Equity Partners and Change Capital. WH Smith's chief executive, Kate Swann, is also considering putting in a £50m bid for Paperchase.
