Tesco has bought the Paperchase brand and intellectual property after the stationery chain entered administration. It is understood the deal does not include Paperchase's 106 stores, which are now at risk of closure putting hundreds of jobs at risk.
The high street stationary retailer appointed administrators from Begbies Traynor to watch over the insolvency process. Previously, Paperchase had failed to secure a buyer after being placed on the market by owner Steve Curtis.
Supermarket chain Tesco said it has made a deal for the business to bring it to its supermarkets across the UK, but the deal does not include any of the retailer’s 106 stores.
