The Papyrus closures come on the heels of Bed Bath & Beyond‘s pending closure of 40 stores including four Southern California locations that have already been shuttered, and Pier 1 Imports‘ plan to close 450 of its stores, including nearly 20 Southland locations.įast-fashion retailer Forever 21 also announced recently that it will would be closing up to 178 stores, although that number was later whittled down to 111, including 21 locations in California.ĬNN reports that U.S. The company and American Greetings “worked cooperatively to address operations and financial issues,” until December, when American Greetings accused it of defaulting on their agreements. It also began exploring a sale, according to court papers. In the last two years, SFP tried to negotiate better terms from suppliers and landlords. American Greetings sells its cards, balloons, candles and other products to retailers like SFP. Papyrus became dependent on American Greetings to supply much of the cards and other items sold in those stores.Īmerican Greetings, which isn’t in bankruptcy, produces greeting cards under the Papyrus brand and other well-known gift-card names. The deal left Papyrus as a store operator with 500 locations in the U.S. for that company’s retail operations, Bloomberg reported.
In 2009, as SFP was struggling, it traded the Papyrus name and its wholesale business to American Greetings Corp. The first Papyrus store opened in Berkeley and eventually grew to 500 stores, including its American Greetings, Carlton Cards and Paper Destiny brands. “We hope that through our artistic, thoughtful greeting cards and our personal expression products that we were able to inspire you to celebrate and honor the special people in your lives.” “We regret that we are closing all our stores,” Papyrus posted in a message on its Facebook page. SFP linked its bankruptcy to a 2009 deal, saying it saddled the chain with the high costs of closing stores and an increase in the price of products. Sears closing 11 area stores: Buena Park location will close by FebruaryĬourt records filed Thursday show the company employs about 1,100 workers and has assets worth $39.4 million and debts of $54.9 million, according to Bloomberg.Barneys to lay off 384 California workers, but the company is poised to be sold.See the list of Forever 21 stores closing in Southern California.Joymode transitioning its rentals from online to brick and mortar.