Day: January 6, 2021

Stationery chain Paperchase on brink of administration

Stationery chain Paperchase is on the brink of administration amid struggling sales.

The high street chain said it has filed a notice to appoint administrators.

Accounting firm PricewaterhouseCoopers will run the process, Paperchase said.

The company, which has some 127 sites and about 1,500 employees, said coronavirus restrictions had put an “unbearable strain” on the business.

November’s lockdown came at a critical time for Paperchase, which is not classed as essential retail and therefore had to close its stores.

About 40 per cent of the firm’s annual sales are made in the Christmas period between November and December, according to the firm.

A spokesperson for Paperchase said: “The cumulative effects of lockdown one, lockdown two – at the start of the Christmas shopping period – and now the current restrictions, have put unbearable strain on retail businesses across the country.”

It launched a company voluntary arrangement in March 2019 in

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Reuters editor in chief Adler announces retirement

Stephen Adler

Reuters editor-in-chief Stephen J. Adler announced Wednesday that he will retire in April 2021, after ten years at the head of the award-winning global newsroom.

In a message to staff, Adler said: “It has been an honor, and certainly the highlight of my career, to lead this extraordinary news organization. I am so grateful to you, my consummately talented and hard-working colleagues. We have reported the news with speed, accuracy, fairness, and insight in every medium. We have provided unique value to our customers, spoken truth to power, and made the world a better place with our factual and fearless journalism.

“I will miss the daily, hourly, and minute-by-minute Reuters adventure and will surely miss all of you. But it is the right time for me to pass the baton. I’m greatly looking forward to writing, teaching, advocating for press freedom and media literacy, and finding my way

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Thousands of UK businesses excluded from chancellors rescue package

Thousands of UK businesses that do not own or rent a property, and who work from home or serviced  offices have been excluded from the Chancellors latest rescue package,  say leading

Richard Churchill, a business advisory partner at tax and advisory firm, Blick Rothenberg said: “While the up to £9,000 per property  to provide  additional support to those hardest hit businesses in retail, hospitality and leisure is welcome to address the latest lockdown, it excludes many businesses and individuals in these sectors who do not have a physical property.”

Churchill added: “ In recent years many businesses have utilised the increased flexibility that serviced office spaces provide and many people work from home,  but they are still very much part of these heavily impacted sectors and provide a variety of services to events and projects that are delivered around the country.

“ They provide support  services to venues  that  can

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