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Insider UK

Business

Henry Saker-Clark & Peter A Walker

Tesco buys Paperchase brand, but shops face closure

Paperchase Tesco Begbies Traynor

Paperchase's 106 branches face potential closure after Tesco agreed to buy the high street stationery chain’s brand, but not its shops or workforce.

The retailer hired administrators on Tuesday morning after the struggling business was unable to secure a rescue sale.

Tesco has announced a deal to buy the brand and intellectual property from insolvency firm Begbies Traynor.

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One subscription that gives you access to news from hundreds of sites

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5,50,000 on streets: How cost-of-living anger is sweeping Europe

5,50,000 on streets: How cost-of-living anger is sweeping Europe

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