25 January 2007 — Chancerealm, the parent company of the Ryman and Partners stationery chains, has acquired 58 Stationery Box shops.
The sale of so many outlets has prompted speculation regarding the fate of the remaining 82 Stationery Box stores.
Theo Paphitis, Chancerealm chairman, said that the acquisition complements the company’s existing business both geographically and in term of product offering.
Stationery Box was taken over by the restructuring specialist Hilco late last year following trading difficulties. Hilco is believed to have made £1 million ($1.97 million) available to the ailing stationery company to enable it to restock in time for the Christmas trading period.
Hilco CEO Paul McGowan said that although Stationery Box’s debt was sizeable, the company had already repaid a significant proportion.