High street blow

Paperchase bought by Tesco in pre-pack deal

Paperchase, Union Square Aberdeen
Paperchase: no buyers

Stationery retailer Paperchase’s brand has been acquired by Tesco in a pre-pack administration that will see 106 branches close.

The business has more than 800 employees across the UK and Ireland who are likely to lose their jobs.

Tesco will now sell the stationer’s goods in its stores across the UK.

Jan Marchant, managing director of home and clothing at Tesco, said: “Paperchase is a well-loved brand by so many, and we’re proud to bring it to Tesco stores across the UK.

“We have been building our plans to bring more brands and inspiration to the ranges we currently offer, and this will help us to take those plans further.”

Begbies Traynor, the administrator, said Paperchase will only continue accepting gift cards for another two weeks.

It is the second time since 2021 that the business has fallen into administration.

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.