Tesco has purchased the brand and Intellectual property subsequently after the chain fell into administration. The purchase deal did not include Paperchase’s 106 stores, which means that these stores are now in risk of closure, placing a numerous employees jobs at risk.
Paperchase appointed administrators from a corporate rescue and recovery practice, Begbies Traynor, to guide the insolvency process of the company. Even though Paperchase previously attempted to sell the brand and stated that a number of buyers were interested, nevertheless they decided to appoint administrators after ‘no viable offers were received for the company’.
Paperchase was one of many brands that has been struggling financially due to rising costs and falling sales. The brand was bought out of administration back in 2021 with a rescue deal which led to the loss of approximately 500 jobs. Nevertheless, Paperchase was sold again in August 2022 to a private investment firm led by the retail investor Steve Curtis.
Where will the Paperchase’s goods be sold now? Tesco has decided that the brands goods will be sold in Tesco stores across the UK.
Key information about Trade Marks
Securing a registered trade mark protects your brand and provides you with a legal protection to preclude third parties from using similar signs as yours. This will allow you to differentiate your brand and mark from others.
Marks can consist of:
- Internet Domains
- Shape and packaging of your goods and more
Commercial importance of Trade marks
Registrations of trade marks in England is voluntary, therefore you are not required to register your mark. However, many brands then face difficulty in protecting their unregistered mark later on as a brand owner will then have to rely on other legal means such as the common law protection of passing off, which has been criticised by many for it is time-consuming and expensive nature.
The commercial reality is that Trade Marks have the potential to add value to your brand as registration will not only assure your security, but the registered mark can increase in value over time. The more that your business expands, the more valuable your mark and business will be. This means that if you decide to franchise, sell or licence your mark this will be financially beneficial for you as a Trade Mark proprietar.
Therefore, if you would like to discuss protection of your brand, please get in touch with the Trademarkroom team today.