The first Papyrus store opened in Berkeley, California, in 1973 and the company grew into a chain with stores nationwide. Papyrus traces its roots back to 1950, when Marcel and Margrit Schurman founded a greeting-card and stationery company in their family kitchen. The company was grappling with higher product costs and the capital costs of renovating or closing several older stores it acquired in 2009, according to court records. Schurman blamed its bankruptcy on the general downturn in the retail industry as well as its unique financial struggles. “The Papyrus brand lives on and we hope you will still find joy in it,” Papyrus wrote in a statement posted to its Facebook page. Papyrus is offering discounts of 20 to 40 percent on its website, where visitors are greeted by a banner saying “ALL SALES FINAL.” The company operates 178 stores in the US and 76 in Canada under the Papyrus, American Greetings, Carlton Card and Paper Destiny brands, filings show. Schurman, which employs 1,100 people in the US, expects to shut down the stores by the end of February, it said in a court filing Thursday. Schurman Fine Papers, the Tennessee-based firm that operates the artsy greeting-card retailer, plans to close all of its 254 locations and sell off their inventory, bankruptcy court papers show. Stationery seller Papyrus will shutter all of its retail stores after its parent company filed for bankruptcy. Iconic 95-year-old NYC eatery goes bankrupt, seeks buyer to fork over hefty $2.5M George Soros fund nears $400M deal to buy Vice Media out of bankruptcy: report Refinery29 a victim of 'woke' politics, not fashion: Vice criticsįirm founded by 'Pharma Bro' Martin Shkreli files for bankruptcy

Stores that sell papyrus cards