Tesco in talks to buy Paperchase
Tesco is understood to be in advanced talks about acquiring the Paperchase greeting card and stationery brand.
According to Sky News, the supermarket is considering buying the brand’s name and other intellectual property through a pre-pack administration deal.
It has already been reported that the struggling retailer is on the brink of collapsing into administration and that its shareholders are in discussions with more than one potential buyer.
Last August, Paperchase was acquired by a group led by experienced retail investor Steve Curtis, who is also chairman of Jigsaw.
Sky News has reported that sources close to the situation said that Tesco is unlikely to be interested in any of Paperchase’s stores, which could mean that most of its workers lose their jobs.
Paperchase operates around 100 stores across the UK and employs around 800 people.
