Paperchase enters administration

The firm has said its 106 stores would continue running in the “short term”, with them all remaining open and trading as normal. It comes after it failed to strike a rescue deal.  

It’s the second time since 2021 that the business has fallen into administration after what had been a challenging few years with it more recently being hit by rising costs and falling sales. 

In a statement, Begbies Traynor said: “Unfortunately, despite a comprehensive sales process, no viable offers were received for the company, or its business and assets. However, there has been significant interest in the Paperchase brand and attendant intellectual property.” 

Earlier today (31 January) it was reported by Sky News that supermarket chain Tesco is poised to purchase the firm, buying Paperchase’s name and other intellectual property through a pre-pack administration deal.

Sources close to the situation said it was, however, unlikely to be interested in any of high street stationary chain’s stores.