Dive Temporary:
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The Paper Retailer is marking 60 years in enterprise with a $60 million growth plan throughout the Northeast and into new markets together with the Midwest.
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Over the following 5 years, the items and homewares retailer will renovate current shops and open an unspecified variety of new ones, in accordance with an organization press launch.
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The Paper Retailer now runs greater than 100 shops nationwide, with 10% of these both transformed or newly opened this yr.
Dive Perception:
The Paper Retailer has expanded from its origins as a family-run newspaper stand, launched in 1964 in Maynard, Massachusetts, although it stays owned by the founding Anderson household.
Beneath stress from the pandemic and different elements, the chain stumbled 4 years in the past, when it took a spin by means of chapter that was resolved in lower than two months. The corporate wasn’t alone in its struggles, as rivals Papyrus, Paper Supply and Issues Remembered additionally ended up in chapter court docket across the similar time.
In its reorganization course of 4 years in the past, The Paper Retailer picked up funds from traders led by actual property agency WS Growth. At that time, the chain was operating 86 shops, largely within the Northeast. Now it’s set to develop.
The retailer’s Signature Hyannis Retailer, at The Touchdown at Hyannis Plaza on Cape Cod in Massachusetts, will quickly host a grand reopening, per its press launch. Together with a redesign, the placement will function interactive experiences, an assortment that features Stanley, Jellycat, Tree Hut, Free Folks and Kendra Scott, and companies like ear piercing and a appeal bracelet and necklace bar. Vacation occasions may also function visits from Santa.
This yr up to now, the corporate may have opened or refreshed 10 shops, together with six in Massachusetts (together with Hyannis), two in New Hampshire, one in Florida and one in Illinois. The final one, in Oak Brook, is The Paper Retailer’s first Midwest location.
“We’re extremely grateful to our loyal clients and neighborhood for supporting us over the previous 60 years,” The Paper Retailer President Tom Anderson, a household proprietor, stated in an announcement. “Our growth plans over the following a number of years signify our dedication to reinvesting in our neighborhood with the identical dedication and keenness that has outlined our family-run enterprise for many years.”
