The future of Paperchase’s Altrincham store is in doubt after the stationery chain fell into administration today.
The George Street shop opened in 2016 and survived the company first going into administration in 2021.
Several weeks ago, Paperchase said it had once again put itself up for sale and that a number of buyers were interested in the business.
But earlier today it appointed administrators Begbies Traynor after receiving “no viable offers” for the company or its assets.
Tesco has now stepped in to buy the brand and its intellectual property, hours after it fell into administration.
But the supermarket giant has not acquired the chain’s 106 shops in the UK and Ireland, leaving the future of 820 staff in doubt.
Tesco will now sell Paperchase’s goods in its stores across the UK.
Begbies Traynor said Paperchase’s stores would remain open for now and that it would issue an update in due course.