Paperchase: Tesco buys Paperchase stationery brand but not its shops

Tesco has bought the brand and intellectual property of High Street stationery chain Paperchase, hours after it fell into administration. Tesco will now sell the stationer's goods in its stores across the UK. It follows a challenging few years for Paperchase which has been hit recently by rising costs and falling sales. 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. Several weeks ago, Paperchase said it had put itself up for sale and that a number of buyers were interested in the business. In a separate announcement on Tuesday, Tesco said more than 2,000 roles were set to go across its business as it announced more changes to the way it runs its shops.

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