// Paperchase launches 20% off sale following its administration and rescue by Tesco
// The stationery retailer plunged into administration earlier this week
Paperchase has launched a 20% off sale following its administration
The stationery retailer plunged into administration earlier this week, appointing Begbies Traynor to handle the process, with Tesco buying its IP and brand but not its 106 stores.
Begbies Traynor are trading Paperchase’s operations in the short term with all stores remaining open.
Paperchase’s website now shows the message: “Stock up on more of your favourite Paperchase pieces with at least 20% off everything”.
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Tesco’s acquisiton of the Paperchase brand will see the grocer bring its products to its supermarkets.
However, Paperchase’s 106 UK stores are set for closure. Currently all store staff have been retained by Begbies Traynor, however 75 head office staff were let go on Tuesday.