money Papyrus closing all stores in the next four to six weeks, files for bankruptcy protection
Greeting card and stationery chain Papyrus is closing its stores in another blow to the ailing industry.
Most of the 254 closings will take place over four to six weeks, said Dominique Schurman, CEO of Papyrus parent company Schurman Retail Group, in a statement Tuesday.
Founded by Marcel and Margrit Schurman in 1950, Goodlettsville, Tennessee-based Schurman has about 1,400 employees at its stores.
“Despite our Herculean efforts to realign our Papyrus and American Greetings stores to fit today’s shopping environment, Schurman Retail Group had to make the difficult decision to close all 254 of our stores in North America," Dominique Schurman said in a statement sent to the USA TODAY Network's Indianapolis Star.
On Thursday, the retail group filed for Chapter 11 bankruptcy protection. Court records show of the 254 stores, 178 are located in 27 states and Washington D.C. and the company has 1,000 U.S. employees. The other stores are in Canada.
The Papyrus website advertised 20% to 40% off all items Thursday and said all sales were final. Earlier in the week, the discount was 20% off full-priced items.
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Messages left by USA TODAY for several Schurman Retail Group executives, including the CEO and COO, were not immediately returned.
Many Americans gave up cards in favor of digital alternatives, or they send fewer cards between major holidays such as Christmas and Valentine’s Day, analysts said.
Major retailers, including CVS and Walmart, have cut back or considered cutting back on shelf space for greeting cards, and card companies have closed hundreds of locations.
Retail space occupied by greeting card stores declined by more than 27% from 2013 to 2018, according to real estate data firm CoStar Group.
Kevin Hourican, president of CVS Pharmacy, told USA TODAY in an interview in 2019 that internal company data showed greeting cards slumping.
“More and more people are using text and email and e-cards, and fewer people are buying cards,” Hourican said.
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There are encouraging signs in some parts of the industry, including premium cards that cost more than $10, budget cards that cost less than $1 and personalized options.
Americans bought about 6.5 billion greeting cards in 2019, according to the Greeting Card Association.
American Greetings sold some of its retail stores to Schurman Retail Group years ago. The greeting cards brand makes Papyrus and Carlton Cards for Schurman Retail Group, spokesperson Patrice Molnar said in an email to USA TODAY.
American Greetings “supplies and sells Papyrus greeting cards and other Papyrus-branded products” to more than 300 other retailers throughout the USA and Canada. Those sales will continue “without any interruption,” Molnar said.
Contributing: Holly V. Hays, Indianapolis Star
Follow USA TODAY reporters Kelly Tyko and Nathan Bomey on Twitter: @KellyTyko and @NathanBomey
This article originally appeared on USA TODAY: Papyrus store closings 2020: Parent company files for bankruptcy
