The company, based in Chicago, made its January and February orders “with the thought process at the time that we actually avoid Chapter 11 and potentially have an investor come into the business,” Winnie Park, Paper Source’s chief executive, said in an interview. Paper Source is now dealing with the unusually public fallout with its vendors, who happen to be in the trade of sharp and skilled communication, as it aims to keep operating. “They did this to a bunch of female-owned companies during Women’s History Month and just before International Women’s Day.” (Paper Source is currently selling products celebrating those events.) “Women have already been so hurt in this pandemic disproportionately to men just in terms of the types of jobs we do and having families to take care of,” said Janie Velencia, the 30-year-old owner of the Card Bureau in Lorton, Va., which is owed $15,000 from Paper Source. The vendors are largely creative women who run small businesses on their own or with a handful of employees. Now, it is unclear how much money vendors will recoup. The difference with Paper Source is that vendors say that the company placed significant new orders for cards and gifts in the run-up to the filing, even pushing to expedite deliveries. Penney to J.Crew have used to keep their brands alive while getting out of store leases and cutting debt. Paper Source, founded in 1983, is the latest national retailer to file for Chapter 11 bankruptcy protection during the pandemic, a process that companies from J.C. Krowinski, 46, who sold goods to Paper Source for nine years. “As a community, we feel that we’ve been taken advantage of in a way that no small business should have been, especially coming off a pandemic,” said Ms.
PAPER SOURCE FULL
Paper Source sent an email to vendors a day after it filed for bankruptcy, saying they would be paid in full for goods provided on or after March 2, and to file claims to retrieve the rest. The post attracted a slew of comments from other frustrated cardmakers - a niche industry dominated by female entrepreneurs - who were also concerned about whether they would get paid. Her five-person business had fulfilled big orders from the chain in January and February, and was owed more than $20,000 for items like Father’s Day cards and tea towels. Krowinski was reeling after Paper Source, the stationery chain with 158 stores, abruptly filed for bankruptcy on March 2. That was the opening salvo of an Instagram post last week from Lisa Krowinski, founder of Sapling Press, a letterpress design and print shop in Pittsburgh. “Hell hath no fury like a stationer scorned.”
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