{{Short description|American stationery and gift retailer}} {{Distinguish|The Paper Store LLC}} {{Infobox company | name = Paper Source, Inc. | logo = Paper-source-logo.png | type = Private | industry = Retail | founded = Chicago, Illinois (1983) | hq_location = 125 S Clark Street, Chicago, Illinois 60603 & 7801 Industrial Drive, Forest Park, Illinois 60130, U.S. | num_locations = 129<ref>{{Cite web|last=|first=|date=2 March 2020|title=Paper Source Acquires 30 Papyrus Stores, Expanding Their Presence Amidst U.S. Retail Closures|url=https://www.prnewswire.com/news-releases/paper-source-acquires-30-papyrus-stores-expanding-their-presence-amidst-us-retail-closures-301014488.html|access-date=2020-11-09|website=PR Newswire|language=en}}</ref> | owner = Elliott Management Corporation | key_people = Jenica Myszkowski (CEO) | website = {{url|www.papersource.com}} }} thumb|A Paper Source store in Indianapolis, Indiana, in 2015. '''Paper Source''' is an American stationery and gift retailer based in Chicago, Illinois, that offers papers, custom invitations and announcements, gifts, greeting cards, gift wrap, paper craft kits, party supplies, and personalized stationery and stamps.<ref name=":1">{{Cite web|title = About Us {{!}} Paper Source|url = http://www.papersource.com/about/|website = www.papersource.com|access-date = 2015-12-16}}</ref>
Paper Source was founded by Susan Lindstrom in 1983 after a trip to Japan exposed her to refined stationery.<ref>{{Cite web|last=Hinton|first=Rachel|date=2017-08-21|title=Paper Source founder Susan Lindstrom dead at 73|url=https://chicago.suntimes.com/2017/8/21/18319026/paper-source-founder-susan-lindstrom-dead-at-73|access-date=2020-11-09|website=Chicago Sun-Times|language=en}}</ref> The first Paper Source store opened in Chicago's River North neighborhood to showcase handcrafted papers from around the world.<ref name=":1" /> Lindstrom retired as Chief Creative Officer in 2009.
== 2007 Sale to Brentwood Associates == In 2007, Brentwood Associates 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.<ref name=":0">{{cite news|title = Paper Source stationery company sold by SoCal private equity firm|url = http://articles.latimes.com/2013/sep/24/business/la-fi-mo-paper-source-sale-20130924|archive-url = https://web.archive.org/web/20131103203944/http://articles.latimes.com/2013/sep/24/business/la-fi-mo-paper-source-sale-20130924|url-status = dead|archive-date = November 3, 2013|author = Tiffany Hsu|work = Los Angeles Times|date = September 24, 2013|access-date = August 2, 2015}}</ref> In 2015, after opening their 100th store, Paper Source hired a new CEO, Winnie Park,<ref>{{cite web |last1=Park |first1=Winnie |title=Chief Executive Officer |url=https://www.linkedin.com/in/winnie-park-b0a771105 |website=LinkedIn }}</ref> and opened a large warehouse facility in Forest Park, IL.<ref name="chicagobusiness.com">{{Cite web|title = Paper Source unveils new digs—and a new CEO|url = http://www.chicagobusiness.com/article/20150909/NEWS07/150909844/paper-source-unveils-new-digs-and-a-new-ceo|website = Crain's Chicago Business| date=8 September 2015 |access-date = 2015-12-16}}</ref>
In March 2020, Paper Source acquired 30 stores from bankrupt stationery retailer Papyrus.<ref>{{Cite web|last=|first=|date=2 March 2020|title=Paper Source Acquires 30 Papyrus Stores, Expanding Their Presence Amidst U.S. Retail Closures|url=https://www.prnewswire.com/news-releases/paper-source-acquires-30-papyrus-stores-expanding-their-presence-amidst-us-retail-closures-301014488.html|access-date=9 November 2020|website=PR Newswire|language=en}}</ref> With this acquisition, Paper Source grew to over 165 stores.
In March 2021, Paper Source filed for Chapter 11 bankruptcy.<ref>{{Cite web|last=Hill|first=Jeremy|date=2 March 2021|title=Paper Source Sets Sale to Apollo-Backed Lender in Bankruptcy|url=https://www.bloomberg.com/news/articles/2021-03-02/staionary-retailer-paper-source-files-for-bankruptcy-plans-sale|access-date=3 March 2021|website=Bloomberg|language=en}}</ref>
== 2021 Sale to Barnes & Noble == On May 11, 2021, news sites started reporting that Paper Source had emerged from bankruptcy and sold to Barnes & Noble. 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.<ref>{{Cite web|last=El-Bawab|first=Nadine|date=2021-05-11|title=Barnes & Noble owner buys stationery retailer Paper Source out of bankruptcy|url=https://www.cnbc.com/2021/05/11/barnes-noble-owner-buys-stationery-retailer-paper-source-out-of-bankruptcy.html|access-date=2021-05-17|website=CNBC|language=en}}</ref>
On June 25, 2021, James Daunt appointed Jenica Myszkowski CEO. She had previously served as the company's Chief Operating Officer.
== Notable employees == Meghan, Duchess of Sussex, worked as a calligraphy instructor at the Beverly Hills branch of Paper Source from 2004 to 2005.<ref>{{Cite news|last=Hill|first=Erin|date=26 March 2018|title=Inside Meghan Markle's Secret Part-Time Job That Explains Her Letter-Perfect Handwriting|language=en|work=People|url=http://people.com/royals/meghan-markle-calligraphy-wedding-invitations/|access-date=2018-04-02}}</ref>
==References== {{Reflist}}
Category:1983 establishments in Illinois Category:Retail companies established in 1983 Category:Arts and crafts retailers Category:Private equity portfolio companies Category:Retail companies of the United States Category:Companies based in Chicago Category:Companies that filed for Chapter 11 bankruptcy in 2021
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