Tesco has bought the brand and intellectual property of High Street stationery chain Paperchase, hours after it fell into administration. But the grocer has not acquired the chain's 106 shops in the UK and Ireland, leaving the future of 820 staff in doubt. Paperchase's administrators, Begbies Traynor, said 75 workers at its head office have been made redundant. All stores will remain open for now with two weeks to redeem gift cards. 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. The business also has stores in train stations, which have suffered from reduced footfall due to more people now working from home. Paperchase, which was founded in 1968, went through a form of insolvency proceedings four years ago to cut stores and reduce costs. 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.
