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Paper Source bankruptcy squeezes small greeting card sellers

Paper Source bankruptcy squeezes small greeting card sellers
The Chicago-based company placed unusually large orders with greeting card suppliers in the months and weeks preceding the bankruptcy. Now those payments may be delayed and, in some cases, possibly never repaid in full.
Bloomberg
(Bloomberg) The bankruptcy filing of Paper Source Inc. is squeezing small vendors the stationery chain uses to stock its shelves with greeting cards.
Chicago-based Paper Source placed unusually large orders with greeting card suppliers in the months and weeks preceding the bankruptcy, according to interviews with two vendors and an outpouring of online complaints. The bankruptcy filing means that payment for those orders may be delayed and, in some cases, possibly never repaid in full. ....

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Staionary Retailer Paper Source Files For Bankruptcy, Plans Sale

Staionary Retailer Paper Source Files For Bankruptcy, Plans Sale
Jeremy Hill, Bloomberg News
(Bloomberg) Paper Source Inc., the stationary and craft supplies chain, filed for bankruptcy with plans to sell itself after Covid-19 hampered expansion plans.
The company intends to hand control of the business to an affiliate of MidCap Financial, a lending arm of Apollo Global Management, in exchange for debt forgiveness, court papers show. Paper Source owes about $103 million to lenders, including more than $55 million under a first-lien term loan.
Paper Source, which has 158 stores across the U.S., expanded its reach last March when it bought about 30 stores from rival chain Papyrus out of bankruptcy. Less than three weeks later, Paper Source temporarily shut down all of its own stores, which generated more than 80% of sales in 2019. ....

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This Popular Snack Company Just Filed for Bankruptcy

This Popular Snack Company Just Filed for Bankruptcy
Sarah Crow
© Provided by Best Life
friends sharing some wine, fruit, and cheese at a dinner party
Yet another popular company is attempting to find its financial footing amid the fallout of the COVID-19 pandemic. Beloved snack company Peeled Snacks filed for bankruptcy in Wilmington, Delaware on March 3,
The Wall Street Journal reports. The brand, known for its dried fruit and fruit crisps, had experienced a significant dip in sales related to lower traffic in airports and fewer children in schools, two places essential to the company’s sales figures prior to COVID, according to the brand’s bankruptcy filing. ....

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This Popular Gift Store Just Filed for Bankruptcy

Popular gift chain Paper Source has just filed for bankruptcy and plans to close a number of its stores in the near future. ....

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Another Retailer Succumbs To Store Closures In 2021: Why Disney Is Closing 60 Locations

Disney will close dozens of its stores in North America this year while its theme parks are still being hampered by the pandemic. ....

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