Stationery Retailer Papyrus To Close All Stores: Liquidation Sales Going On Now

Stationery retailer Papyrus will be closing all of its stores amid reports that it has hired a liquidation firm.

According to the Chicago Tribune, employees were notified last week that all stores were expected to close in the next four to six weeks, with liquidation sales already underway in-store and online.

Schurman Retail Group, the parent company of Papyrus, did not publicly announce the store closures, but a letter was sent to employees from the COO of Schurman, Dominique Schurman, who also owns Papyrus.

In the letter obtained by Retail Dive, Schurman said the “current challenges of the retail industry" were the reason for the store closures saying the company had been "diligently working to revitalize our business” over the last few months.

Schurman also said in the letter that "This decision is heartbreaking for me, personally of course, and also because I know how dedicated you all have been to your stores and this company."

The company has hired liquidation firm Gordon Brothers to facilitate the going-out-of-business sales, Retail Dive reported.

Papyrus most recently listed on its website that it had more than 260 stores. Schurman Retail Group also owns the Carlton Cards, Paper Thread, and American Greetings brands. Papyrus has been in business for about 70 years.