A popular stationery chain is on the brink of administration for the second time in as many years.

High street retailer Paperchase, which has branches across Kent including in Bluewater, Maidstone, Tunbridge Wells, and Canterbury, is lining up administrators as it searches for a rescue deal.

The firm has put corporate restructuring business Begbies Traynor on standby in case its rescue talks collapse, two years after it filed a notice to appoint administrators in January 2021.

It was one of many retailers crashing into insolvency during the Covid pandemic.

The chain faced an ownership change when it was taken over in August last year by investor Steve Curtis.

It was put up for sale just four months later and earlier this month it was revealed the company is now being auctioned by accountancy firm PricewaterhouseCoopers.

It has around 100 stores across the country and when Mr Curtis took over, he was said to be backing an existing management plan to grow to expand to approximately 150 stores in the coming years.

A spokesman for Paperchase said: “We confirm that we have retained BTG and PwC to advise Paperchase on strategic options, including the sale of the business as a going concern to new owners.

“Talks are continuing with a number of interested parties.

“All Paperchase stores and the website will continue to trade as normal during this period.

“We can’t comment further on this process until discussions with interested parties have been concluded.”