MAJOR retailer Paperchase has fallen into administration, reports the BBC

We previously revealed that the stationery firm, which has a store at Silverburn Shopping Centre, was lining up administrators earlier this month. 

Paperchase also has stores on Byres Road in Glasgow's West End, on Buchanan Street in the city centre and in Braehead Shopping Centre in Renfrew.

BBC News has today reported that the company has failed to strike a rescue deal, putting 820 jobs at risk.

Administrator Begbies Traynor has revealed that all 106 shops across the UK will continue to trade as normal and an update will be provided in due course.

It's believed that Paperchase will only continue accepting gift cards for another two weeks.