Retail entrepreneur Steve Curtis is leading a consortium to purchase stationery chain Paperchase.

The retailer is set to be sold by current owners Permira to Curtis, backed by industry advisory firm Retail Realisation, Sky News first reported.

Curtis has previously chaired fashion retailer Jigsaw and led investments in chains such as Tie Rack.

Paperchase tumbled into administration in January 2021 and was bought in a pre-pack deal by Permira.

The retailer was put up for auction and Curtis is understood to have beat competition including Hilco to strike a deal.

Paperchase trades from around 100 stores but Curtis is said to back a plan to expand this to 150 shops in the next few years.

The value of the deal, which is being overseen by PwC, has not been confirmed.

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