Aspen Phoenix Newco Limited (trading as Paperchase) – administration

Aspen Phoenix Newco Limited (trading as Paperchase), the high street stationery retailer with 106 stores across the UK, entered administration on 31 January, after a sales process failed to result in any viable going concern offers for the business. Immediately following the appointment of Kirstie Provan, Mark Fry and Gary Shankland of Begbies Traynor as Joint Administrators, supermarket chain Tesco acquired the Paperchase brand and its intellectual property via a pre-pack sale. The deal does not include any of the company’s 106 stores, which will reportedly remain open for the time being. Sanne Group UK Limited has three registered charges against the company.