(Bloomberg) -- Tesco Plc agreed to buy the Paperchase stationery brand after administrators were appointed for the business.

The UK’s largest grocer said Tuesday it’s buying the brand and related intellectual property. 

Paperchase appointed Begbies Traynor as administrators after a sales process ended without a viable offer for the entire company.

Tesco said it plans to expand the Paperchase brand across the UK via its own stores.

©2023 Bloomberg L.P.