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High street redundancies: Which retailers have cut jobs in the pandemic so far? Retailers have made redundancies due to the pressure of the pandemic on trading. (Getty Images) Thousands of high street jobs have evaporated during the coronavirus pandemic, as retail chains have fallen under the pressure of lockdown restrictions on trading. The UK high street, which was already struggling before the pandemic, is set to look very different when shoppers return after lockdown following high profile collapses that have cost many retail workers their jobs.  Household names such as...

Paperchase, the stationery chain that filed to appoint administrators early this month, has been rescued. The company was yesterday sold to a newly formed company called Aspen Phoenix, which is backed by private equity firm Permira. The pre-pack deal will save up to 90 of Paperchase’s 127 stores and around 1,000 of its 1,250 employees. Ollie Reaburn, Paperchase Chief Executive, said: “The cumulative impact of lockdowns and related restrictions means that it is imperative that we make this tough but necessary decision to safeguard Paperchase’s future. “In taking this action, we are giv...

Paperchase secures future of 90 high street stores - but 37 set to close The deal rescued around 1,000 high street jobs Paperchase has secured a deal to rescue the majority of its high street stores, saving 1,000 jobs, but 37 shops are set to close following the sale. The stationery retail chain announced it appointed administrators this morning and was bought by Aspen Phoenix Newco. Funds managed by Permira Debt Managers are the majority stakeholders in the company.  Paperchase chief executive Olly Raeburn said the impact of lockdowns and Covid restrictions meant it was “...