All 254 Papyrus stores nationwide are closing in the next four to six weeks, the company announced last week. But the Reade Street store may close in the next week or so, according to A. who spotted it first, sent the photo and chatted with employees. The chain also has a store on Broadway at Park Place and the World Trade Center mall.
The chain was founded in 1950 (!) by Marcel and Margrit Schurman in their Berkeley kitchen as an importer and wholesaler of fine paper, greeting cards and stationery. They opened their first retail store in Berkeley in 1973, and by the early 2000s, their daughter Dominique had become CEO and the stores were quickly expanding. The Reade Street store opened in 2015.
The company also owns American Greetings, Carlton Cards, Paper Thread, as well as NIQUEA.D and PAPER DESTINY and has 1400 employees in its stores. No announcement has been made about the future of the online business.
This from Retail Dive, who had the story first: “In a letter to employees, Dominique Schurman, COO of Schurman Retail Group, which owns Papyrus stores, said the company would close its doors. The company has hired liquidation firm Gordon Brothers to assist with the going-out-of-business sales, according to the letter, viewed by Retail Dive. Schurman cited ‘current challenges of the retail industry’ said the company had been ‘diligently working to revitalize our business’ for months beforehand. Schurman thanked employees and told them more information would follow ‘as we navigate this difficult time. 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,’ Schurman said.”
