Paper Source store front in Indianapolis, IN

Paper Source is an American stationery and gift retailer based in

Chicago, Illinois (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

, that offers papers, custom invitations and announcements, gifts, greeting cards, gift wrap, paper craft kits, party supplies, and personalized stationery and stamps. Paper Source was founded by Susan Lindstrom in 1983 after a trip to Japan exposed her to refined

stationery Stationery refers to commercially manufactured writing materials, including cut paper, envelopes, writing implements, continuous form paper, and other office supplies. Stationery includes materials to be written on by hand (e.g., letter paper) ...

. The first Paper Source store opened in Chicago's

River North The River North Gallery District or simply River North, in Chicago, is in the Near North Side, Chicago. It hosts the largest concentration of Contemporary art gallery, art galleries in the United States outside of Manhattan. River North has ex ...

neighborhood to showcase handcrafted papers from around the world. Lindstrom retired as Chief Creative Officer in 2009.

2007 Sale to Brentwood Associates

In 2007,

Brentwood Associates Brentwood Associates is a private equity firm in the US with groups focusing on leveraged buyout. The firm, which is based in Los Angeles, was founded in 1972. Their most recent fund was a $1.15bn fund raised in 2017. The venture capital group ...

purchased a majority stake in the company and Sally Pofcher was named CEO. Under Pofcher's leadership, the retailer grew from 20 stores to 100.

2013 Sale to Investcorp

In 2013, Paper Source was sold to

Investcorp Investcorp is a global manager of alternative investment products, for private and institutional clients. Founded in Bahrain in 1982, the firm has offices in United States, United Kingdom, Saudi Arabia, Qatar, United Arab Emirates, India, China, ...

. In 2015, after opening their 100th store, Paper Source hired a new CEO, Winnie Park, and opened a large warehouse facility in Forest Park, IL. In March 2020, Paper Source acquired 30 stores from bankrupt stationery retailer

Papyrus Papyrus ( ) is a material similar to thick paper that was used in ancient times as a writing surface. It was made from the pith of the papyrus plant, '' Cyperus papyrus'', a wetland sedge. ''Papyrus'' (plural: ''papyri'') can also refer to a ...

. With this acquisition, Paper Source grew to over 165 stores. In March 2021, Paper Source filed for Chapter 11 bankruptcy.

2021 Sale to Barnes and Noble

On May 11, 2021, news sites started reporting that Paper Source had emerged from bankruptcy and sold to

Barnes & Noble Barnes & Noble Booksellers is an American bookseller. It is a Fortune 1000 company and the bookseller with the largest number of retail outlets in the United States. As of July 7, 2020, the company operates 614 retail stores across all 50 U. ...

. The sale would save about 130 stores and 1,700 employees. Barnes & Noble CEO James Daunt will oversee both companies. While the two businesses plan to operate independently, it hinted at possible partnerships in the future. On June 25, 2021, James Daunt appointed Jenica Myszkowski CEO. She had previously served as the company's Chief Operating Officer.

Notable employees

Meghan Markle Meghan, Duchess of Sussex (; born Rachel Meghan Markle; August 4, 1981) is an American member of the British royal family and former actress. She is the wife of Prince Harry, Duke of Sussex, the younger son of King Charles III. Meghan was ...

worked as a calligraphy instructor at the Beverly Hills branch of Paper Source from 2004 to 2005.

References

1983 establishments in Illinois Retail companies established in 1983 Arts and crafts retailers Private equity portfolio companies Retail companies of the United States Companies based in Chicago Companies that filed for Chapter 11 bankruptcy in 2021 {{US-retail-company-stub