Borders receives offers for Paperchase
Borders is believed to have received indicative offers from Luke Johnson and WH Smith for Paperchase. Risk Capital Partners chief Luke Johnson, which owns Borders UK, is rumoured to have offered around half the £80 million thought to be wanted by Borders US for the division, with WH Smith also believed to have made an offer. Retail entrepreneur and Dragon’s Den judge Theo Paphitis, who owns Ryman’s, is also thought to be interested in the business, although it is unclear whether he has made a bid.
Paperchase operates 40% of its outlets as concessions within Borders UK stores so a deal without Mr Johnson seems unlikely.
Mr Johnson, WH Smith and Mr Paphitis were all unavailable to comment.
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