The high street chain is lining up Begbies Traynor to oversee a potential insolvency process even as it continues to seek a solvent rescue deal, Sky News learns.
Retail Realisation, an industry advisory firm with which Mr Curtis and turnaround firm Rcapital are affiliated, was also involved in last summer's deal.
Permira Credit, the previous owner, had invested in Paperchase's digital offering as well as new shop openings and executive recruitment since its brush with administration.
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