Papyrus to close all 254 stores in North America

The greeting card retailer is the latest brand in a string of brick-and-mortar operations to announce closures.
/ Source: TODAY

Papyrus will be closing its 254 stores, the greeting card and stationary chain said in a statement on Thursday.

The company, founded by Marcel and Margrit Schurman in 1950, will be closing most locations in four to six weeks.

A pedestrian walks by a Papyrus store on Jan. 22 in San Francisco.Getty Images

"Schurman Retail Group wants to thank you, our wonderful customers for so many years of loyal patronage," said a statement shared on the company's Facebook page. "Unfortunately, we regret that we are closing our stores."

"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, creating meaningful moments along the way," the statement continued. "We truly appreciate all of your business and will miss serving your needs. We will cherish the memories. The Papyrus brand lives on and we hope you will still find joy in it."

On Thursday, the retail group reportedly filed for Chapter 11 bankruptcy protection. According to USA Today, court records show that roughly 1,000 employees in the United States will be impacted.

Despite closing all of its locations, Papyrus products will still be sold at other retailers. Papyrus is offering 20% to 40% off products on its website as well as in-store sales. All sales are final.

Papyrus is the latest in a string of brands to announce the closing of brick-and-mortar operations. Earlier this month, Macy's announced it will close 28 stores in 18 states. Last month, Pier 1 Imports revealed liquidation sales as it prepared to close 70 stores. Just this week, Express published plans to close 31 stores in 20 states by the end of the month as the fashion retailer seeks to revive its brand and stay afloat.

Bed Bath & Beyond also announced this week that 40 store locations nationwide "have already closed or will close in 2020."

A spokesperson for the company told TODAY that the stores — located in 19 states and Washington, D.C. — "no longer meet the standards our customers expect from us."