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Fidelity added 2,000 jobs last year Updated March 2, 2021, 8:06 p.m. Email to a Friend FINANCE Fidelity added 2,000 jobs last year Boston-based Fidelity Investments added some 2,000 positions to the company in 2020, growing its global workforce by about 4 percent, to end the year with more than 47,000 employees, as the company reported record revenue and operating income during the COVID-19 pandemic. Net employment actually fell in Massachusetts, however, by about 200 jobs, or 3 percent, to more than 5,700, according to a Fidelity spokesman. Revenue at the privately held company, which manage...

Dive Brief: Card and gift retailer Paper Source has filed for Chapter 11 bankruptcy with a plan to sell itself and close at least 11 stores. The company, which runs 158 stores, has a stalking horse bid from current lenders led by MidCap Financial to buy the company and provide $16.5 million in financing.  The stalking horse bid is valued at Paper Source's debt obligations, including $16 million for a debtor-in-possession facility and $72.8 million on a first lien facility, according to court papers. Dive Insight: Roughly a year ago, Paper Source was a beneficiary of the fall of a rival, the ...

The so-called stalking horse bid from its lenders sets a minimum price for an auction of the Chicago-based company's assets.

Paper Source, a Chicago-based retailer of cards and gifts, had been expanding rapidly, buying 27 store leases from bankrupt rival Papyrus. Then the COVID-19 pandemic hit, and Paper Source itself filed for bankruptcy Tuesday.

Paper Source, a Chicago-based retailer of greeting cards and gifts that had been expanding rapidly before the COVID-19 pandemic, filed for bankruptcy Tuesday. It’s the latest retailer to seek bankruptcy protection during a pandemic that left bricks-and-mortar stores closed for months. The company filed under Chapter 11 with the U.S. Bankruptcy Court for the Eastern District of Virginia, which ...