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Borders US to review Paperchase
Borders in the US has appointed bankers to conduct a strategic review of Paperchase, a process that is expected to result in the sale of the stationery chain, reports the Daily Telegraph.
Retail watchers believe that the company, which operates 114 stores and concessions in the UK, could be sold for up to £50m. "The sale will be a major test of the appetite for retail businesses in the current economic climate", according to the newspaper.
As well as standalone stores and concessions in Borders stores, Paperchase also operates concessions in House of Fraser and Selfridges stores. The group expanded into the US in 2005, opening concessions in Borders stores.
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