The British supermarket chain is said to be in advanced talked to acquire Paperchase’s name and other intellectual property through a pre-pack administration.
Stationery retailer Paperchase has been on the brink of collapse and reports of failed rescue talks continue to rise. Now, Tesco is in advanced conversation to acquire intellectual property including the brand’s name through a pre-pack administration that could take place as soon as Tuesday 31st January 2023. It is unclear whether any other suites are in discussions about a deal.
There are currently 106 Paperchase stores across the UK and Ireland, employing 820 staff. The pre-pack deal would likely lead to mass store closures.
This is the second time in as many years that Paperchase has been on the brink of administration, with the first notice to appoint administrators having been made in January 2021. The retailer was then rescued in a pre-pack deal led by a lender connected to Permira, a private equity firm, in 2021, which then led to retail entrepreneur Steve Curtis snapping up the brand backed by Retail Realisation in August 2022.
