Tesco confirms Paperchase acquisition in pre-pack deal
Tesco has confirmed it has acquired stationary retailer Paperchase brand and related IP in a pre-pack administration deal.
The Big 4 grocer has revealed plans to bring the brand to its stores.
The stationary retailer collapsed into administration this morning, appointing Begbies Traynor to handle the process.
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The are currently 106 Paperchase stores in the UK and Ireland, employing 820 staff.
“Paperchase is a well-loved brand by so many, and we’re proud to bring it to Tesco stores across the UK,” Tesco home and clothing managing director Jan Marchant said.
“We have been building out plans to bring more brands and inspiration to the ranges we currently offer, and this will help us to take those plans further. We look forward to sharing more with our customers in due course.”
The news comes following last week’s announcement that Paperchase was on the brink of administration.
