ANOTHER store closure in Bradford's Broadway shopping centre has been confirmed.
The centre's Paperchase store is among those which will close after the firm tumbled into administration.
It was announced last month that a rescue deal had been secured, but the retailer said 37 of its 127 stores would close.
Administrators revealed that newly formed company Aspen Phoenix Newco, which is backed by Permira Debt Managers, is to take control of the retailer.
Paperchase hired administrators from PwC after it saw sales slide on the back of significantly lower footfall amid coronavirus restrictions.
The group said the rescue deal will retain its position in the UK retail landscape, “albeit in a smaller and more streamlined manner”.
Its new owners said that a “comprehensive transformation programme” is currently under way to help it rebound once restrictions lift.
The loss of the store follows a number of high-profile losses in the centre including Debenhams and Topshop.
Ian Ward, General Manager at The Broadway, Bradford, said: “Multiple Paperchase stores across the country will be closing including the unit held in The Broadway shopping centre.
“Whilst the implications of the pandemic has dealt a number of fatal blows to the retail industry as a whole, at The Broadway we’re very much focussing on the future of the Centre as a retail and leisure destination.
"We’re holding a number of very exciting conversations with brands that want to bring new offerings to the city of Bradford. As always, we’ll announce these names when leases are signed.”
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