Papyrus to close all stores

Papyrus closing all stores

Retailer Papyrus is closing all of its 254 stores, officials with the company announced this week.

Most of the greeting card and stationery stores will be closed within the next four weeks, CBS News reported.

Prices were already cut by 20% to 40% on the Papyrus website and all sales are final.

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The company apparently has hired a liquidation firm to direct going out of business sales, The Chicago Tribune and Retail Drive reported.

Papyrus was found in 1950 by Marcel and Margrit Schurman as an importer of European paper products, CBS News reported.

It currently has about 1,400 store employees, USA Today reported.

FILE PHOTO: Papyrus, a stationary and greeting card retailer, is shutting down all of its stores.
FILE PHOTO: Papyrus, a stationary and greeting card retailer, is shutting down all of its stores. (Noam Galai/Getty Images)