Paperchase's 106 branches face potential closure after Tesco agreed to buy the high street stationery chain's brand but not its shops or workforce.The retailer hired administrators on Tuesday morning after the struggling business was unable to secure a rescue sale.Tesco has announced a deal to buy the brand and intellectual property from the insolvency specialists.But the move means Paperchase's stores are expected to shut, with hundreds of shop workers likely to face redundancy.

Paperchase's 106 branches face potential closure after Tesco agreed to buy the high street stationery chain's brand but not its shops or workforce.The retailer hired administrators on Tuesday morning after the struggling business was unable to secure a rescue sale.Tesco has announced a deal to buy the brand and intellectual property from the insolvency specialists.But the move means Paperchase's stores are expected to shut, with hundreds of shop workers likely to face redundancy.