Paper Source latest national retailer to file for bankruptcy in Richmond
Mike Platania photo)
Looking to get well soon, a COVID-battered chain of stationery and greeting card shops with a location in Carytown has joined the wave of national companies to seek bankruptcy protection in Richmond.
Paper Source, a Chicago-based brand with more than 150 stores, filed for Chapter 11 on Tuesday in federal court in Richmond as it looks to get a handle on its debt by selling its assets while staying open for business.
It’s at least the eighth big out-of-town brand to come to Richmond for bankruptcy over the last 12 months, joining Guitar Center, J. Crew, Pier 1 Imports, Luxembourg-based telecom giant Intelsat, the parent company of clothing stores Ann Taylor, Loft and Lane Bryant, department store chain Lord & Taylor, and radio station giant Alpha Media.
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