Worcester Paperchase closing down sale - customers strip shelves

Paperchase in the High Sreet was busy today as customers made the best of discounted prices - including up to 50 per cent off certain items and 20 per cent off others.

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Some shelves were emptied quickly as shoppers browsed for the best deals.

SALES: The tills were busy at Paperchase in the High Street for the closing down sale (Image: Newsquest)

Stationery retailer Paperchase has gone into administration with big yellow signs in the windows announcing 'store closing down' and 'everything must go'.

Administrators were appointed on January 21 after Paperchase failed to secure any buyers for the business.

One shopper, taking advantage of the deals, said: "Shoppers were told the store could potentially trade for another three months but would close its doors as soon as all existing stock has gone."

Tesco has bought the Paperchase brand and intellectual property but the deal does not include any of Paperchase’s 106 UK stores.

DEALS: Paperchase in Worcester's High Street (Image: Newsquest)

Paperchase has said they will remain open for now, but has said it would “strongly urge” customers to redeem gift cards as soon as possible because they will not be accepted after two weeks.

Paperchase’s Worcester store has declined to comment.

Administrators Begbies Traynor said in a statement: “On January 21, Mark Fry, Kirstie Provan and Gary Shankland, of Begbies Traynor, were appointed as joint administrators of Aspen Phoenix Newco Limited, which trades as Paperchase.

“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, there has been significant interest in the Paperchase brand and attendant intellectual property.

“The joint administrators will continue trading the company’s operations in the short term, with all stores remaining open and trading as normal.”

Paperchase also fell into administration two years ago, with the closure of 37 stores.

Jan Marchant, managing director of home and clothing at Tesco, said: “Paperchase is a well-loved brand by so many, and we’re proud to bring it to Tesco stores across the UK.

“We have been building out plans to bring more brands and inspiration to the ranges we currently offer, and this will help us to take those plans further.

“We look forward to sharing more with our customers in due course.”