A high street retailer faces an uncertain future as its owners line up administrators.

Stationery chain Paperchase is in talks with potential buyers amid reports that the company could enter administration.

The company confirmed it has hired advisers from Begbies Traynor Group (BTG) and PwC to assess options for the future of the company and have had interest from a number of possible suitors.

The store had only recently reopened in Brighton, with a new store opening in Churchill Square in October.

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.”

Paperchase also previously fell into administration two years ago, with the closure of 37 stores.