Paperchase

High Street stationery chain Paperchase has fallen into administration putting 820 jobs at risk. It comes after the firm, which has 106 stores in the UK and Ireland, failed to strike a rescue deal. Administrators Begbies Traynor said the shops would ...

The grocer is also closing all its remaining counters and hot delis due to a lack of demand, but all staff affected will be offered alternative roles. The grocer plans to cut 1,750 team manager positions across hundreds of its larger stores, and introduce a new tier of shift leader roles to run its shop floor operations. But the grocer has not acquired the chain's 106 shops in the UK and Ireland, leaving the future of 820 staff in doubt.

It comes after Paperchase failed to secure a buyer after being placed on the market by retail veteran owner Steve Curtis.

They said nothing about what would happen to their jobs in the long term. “The joint administrators will continue trading the company’s operations in the short-term, with all stores remaining open and trading as normal.” Administrators from Begbies Traynor said that they would keep the shops open for a short time, and that staff would stay in their jobs in the meantime.

Tesco has bought the brand and intellectual property of High Street stationery chain Paperchase, hours after it fell into administration. · But the grocer has ...

The grocer is also closing all its remaining counters and hot delis due to a lack of demand, but all staff affected will be offered alternative roles. The grocer plans to cut 1,750 team manager positions across hundreds of its larger stores, and introduce a new tier of shift leader roles to run its shop floor operations. But the grocer has not acquired the chain's 106 shops in the UK and Ireland, leaving the future of 820 staff in doubt.

Tesco has confirmed it has acquired stationary retailer Paperchase brand and related IP in a pre-pack administration deal.

[was on the brink of administration.](https://www.retailgazette.co.uk/blog/2023/01/paperchase-administrators/) We look forward to sharing more with our customers in due course.” The are currently 106 Paperchase stores in the UK and Ireland, employing 820 staff.

Despite the surprise move, hundreds of jobs remain at risk as the supermarket's deal will not include any of the retailer's 106 stores. Paperchase employs ...

“The Joint Administrators will continue trading the Company’s operations in the short term with all stores remaining open and trading as normal. “Unfortunately, despite a comprehensive sales process, no viable offers were received for the Company, or its business and assets, on a going concern basis. The Joint Administrators will continue to monitor trading in the stores and further updates will be provided in due course.” Begbies Traynor, which was appointed administrator of the stationery retailer on Tuesday, said that it would continue to monitor trading in stores and provide further updates in “due course”. However, this sale reflects the interest in the well-known and established brand and will enable the brand to continue in Tesco stores across the UK. The chain said its shops would continue running in the “short term”, and all stores will remain open and trading as normal.

The supermarket giant has announced a deal to buy the brand and intellectual property in a rescue deal but will not save the stores.

They said nothing about what would happen to their jobs in the long term. “The joint administrators will continue trading the company’s operations in the short-term, with all stores remaining open and trading as normal.” Administrators from Begbies Traynor said that they would keep the shops open for a short time, and that staff would stay in their jobs in the meantime.

Tesco has bought the Paperchase brand and intellectual property after the stationery chain entered administration today.

"The joint administrators will continue trading the company's operations in the short term, with all stores remaining open and trading as normal." "However, there has been significant interest in the Paperchase brand and attendant intellectual property. "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.

Stationery retailer collapses into administration after rising costs and disappointing sales.

Many of those affected will have the option of moving to lower-paid roles. However, retail analysts said the emergence of Tesco as a buyer was unexpected. They said the company’s stores would remain open and continue to trade as normal. [company voluntary arrangement](https://www.theguardian.com/money/2012/aug/19/company-voluntary-agreement-insolvency-bankrupt) (CVA) to [cull unprofitable stores](https://www.theguardian.com/business/2019/jan/16/paperchase-considers-closing-stores-amid-high-street-struggles) and cut rents. [said it required additional funding](https://www.theguardian.com/business/2023/jan/17/paperchase-sale-buyout-administration) and had asked Begbies Traynor and PwC to advise it on strategic options, including the sale of the business. [Tesco](https://www.theguardian.com/business/tesco) stores across the UK,” said Jan Marchant, the managing director of home and clothing at Tesco.

Tesco is close to buying the stationery chain's brand in a pre-pack deal that will leave its employees and stores facing an uncertain future, Sky News ...

Sources close to the situation said Tesco was unlikely to be interested in any of Paperchase's stores, meaning that most of its workforce may face the prospect of losing their jobs. Tesco is poised to snap up the Paperchase brand in a surprise swoop that will cast a shadow over hundreds of high street jobs. Tesco is close to buying the stationery chain's brand in a pre-pack deal that will leave its employees and stores facing an uncertain future, Sky News learns.

Paperchase this morning collapsed into administration, appointing Begbies Traynor to handle the process, as Tesco looks to snap up the retailer.

[It is understood that Tesco is leading the race to snap up the stationery retailer’s IP.](https://www.retailgazette.co.uk/blog/2023/01/tesco-paperchase/) [here](https://www.retailgazette.co.uk/newsletter-sign-up-retail-gazette?utm_source=Article&utm_medium=InStLink) to get the latest news straight into your inbox each morning // “Significant” interest had been received for Paperchase’s brand and IP, with Tesco understood to be leading the race to buy it

The supermarket giant has announced a deal to buy the brand and intellectual property in a rescue deal but will not save the stores.

They said nothing about what would happen to their jobs in the long term. “The joint administrators will continue trading the company’s operations in the short-term, with all stores remaining open and trading as normal.” Administrators from Begbies Traynor said that they would keep the shops open for a short time, and that staff would stay in their jobs in the meantime.

Tesco has announced the purchase of the Paperchase brand and related intellectual property after the stationery and gifts retailer fell into administration.

Click [subscribe ](https://www.esmmagazine.com/subscribe)to sign up to ESM: European Supermarket Magazine. With 2023 set to be challenging, if this acquisition proves successful, Tesco may have further opportunities to bring other complementary brands into the fold.” Tesco must utilise its Clubcard prices to encourage spend and should also considering introducing a value range to ensure it does not alienate its existing customers. Paperchase’s target audience is younger than Tesco’s and it appeals to a more affluent shopper. [Tesco](https://www.esmmagazine.com/tag/tesco) has announced the purchase of the [Paperchase](https://www.esmmagazine.com/tag/paperchase) brand and related intellectual property after the [stationery](https://www.esmmagazine.com/tag/stationery) and [gifts](https://www.esmmagazine.com/tag/gifts) retailer fell into administration. [GlobalData](https://www.esmmagazine.com/tag/globaldata), said, “This acquisition will enable Tesco to enhance its non-food categories outside of homewares, however, bedding in the brand is unlikely to be smooth sailing.