Stationery and greetings card retailer Paperchase has appointed CAPA to conduct a series of audits on its properties and outgoing invoices, as the British retailer seeks to generate savings across its chain of stores.
The business has instructed CAPA to undertake full property and accounts payable audits on a portfolio that includes over 100 locations, as it looks to identify and recover savings that would otherwise remain hidden in a company-wide cost base.
An established presence on Britain’s high streets for more than 50 years, Paperchase operates as a retailer of greeting cards, wrap, gifts and stationery from over 100 sites across the UK.
It also operates concessions in a number of department stores including House of Fraser, Selfridges and Fenwicks, and through various Next stores. Together with its store portfolio, it also has a growing e-commerce business.
The chain is also a major employer in the retail market, with more than 1,000 staff working across its stores, head office function and its distribution centre.
With plans to expand its stores and online shopping proposition under new ownership, Paperchase has instructed CAPA to conduct the audits on its large property portfolio.
It is one of many retail chains, such as Shuropody, Jigsaw, American Golf, Bodycare and others that have secured partnerships with CAPA this year to establish savings.
The Paperchase appointment will see CAPA’s Audit team carry out a forensic audit of property costs at sites the retailer traded from. This will involve the use of bespoke software to interrogate data on utility bills, service management charges and business rates related to each location.
The team will also inspect information on invoices paid out at each site.
Across these forensic examinations, CAPA will look to identify any anomalies or errors, before recovering any overpaid sums for Paperchase on a no-win, no-fee basis.