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Tesco has acquired the intellectual property and brand of embattled stationery retailer Paperchase for an undisclosed sum in a pre-pack deal.
The brand’s 106 stores are not part of the deal leaving the future of its 820 members of staff in doubt.
The news comes less than a year after Steve Curtis, an operating partner at Rcapital, the turnaround investor, agreed to buy Paperchase as a private investor for an undisclosed sum.
Retail Realisation, an industry advisory firm with which Curtis and Rcapital are affiliated with, was also part of the deal.
Paperchase was put up for auction 18 months after Covid-19 affected its revenues and profits, having undergone a pre-pack administration in January 2021.
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 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.”
