Tesco buys the Paperchase brand, but not shops

Tesco has on Tuesday confirmed that it has bought the Paperchase brand and related intellectual property.

The deal, however, does not include 106 stores in the UK and Ireland of the stationery and gifts retailer that collapsed into administration, leaving 820 jobs at stake.

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