Papyrus to close all 260 stores, company says

NEW YORK -- Stationery and greeting card retailer Papyrus will be closing its 260 stores, the company said in a statement on Friday.

Papyrus traces its roots to 1950. At one time, they had nearly 450 locations nationwide.

The company said they are closing due to 'current challenges in the retail industry,' according to a Fortune report.

Papyrus is offering 20-40% off on its website as well as in-store sales.

While Papyrus retail stores are set to close, Papyrus products will still be sold in other retailers.

The statement read:

'Schurman Retail group wants to thank you, our wonderful customers for so many years of loyal patronage. Unfortunately, we regret that we are closing our stores. We hope that through our artistic, thoughtful greeting cards and our personal expression products that we were able to inspire you to celebrate and honor the special people in your lives, creating meaningful moments along the way. We truly appreciate all of your business and will miss serving your needs. We will cherish the memories. The Papyrus brand lives on and we hope you will still find joy in it."