30 October 2023 , 12:04
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Tesco has re-launched the stationery brand Paperchase today - nine months after the struggling retailer collapsed into administration.
The supermarket has launched four core ranges - Rainbow, Pastel Ombre, Artful Scribbles and Confetti - in select stores and online on the Tesco website. Tesco rescued Paperchase in January this year after it collapsed into administration, with all its 106 stores closed as a result.
Tesco snapped up the Paperchase brand and intellectual property, allowing it to sell its products in its supermarkets. Paperchase failed after its owners were unable to find a buyer for its entire estate, including physical stores, after struggling with soaring costs and plummeting sales.
Announcing its return today, Ally Rose, Director for Homeware at Tesco said: “We know that Paperchase lovers will be pleased to see their favourite stationery brand again, and we’re excited to be making these premium, design led products available to Tesco customers, to spread a little more joy.
“With a variety of trends available in the range we’re making it easy for shoppers to express themselves and find something to suit their individual personality whilst doing their weekly shop- whether that’s someone who loves working with bright neon colours, a detailed organiser who prefers neutrals or something in-between. It’s brilliant to see all the beautiful colours and designs coming to life both in our stores and online.”
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Paperchase was founded in 1968 by art students Judith Cash and Eddie Pond. It hit trouble in 2021 and was rescued by Aspen Phoenix Newco, which was backed by Permira Debt Managers, as part of a pre-pack administration deal.
Then just four months before its collapse, the chain was taken over in August 2022 by Steve Curtis, a retail investor who has been involved with Tie Rack and Jigsaw. The Paperchase website was shut down in February this year.
At the time, Paperchase told shoppers that it was with a "heavy heart" that it was closing its online store, and thanked those who gave the brand "support and loyalty" over the years.
A statement from administrators Begbies Traynor at the time read: "Unfortunately, despite a comprehensive sales process, no viable offers were received for the Company, or its business and assets, on a going concern basis. However, this sale reflects the interest in the well-known and established brand and will enable the brand to continue in Tesco stores across the UK."