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Archive | April 30, 2013

Archiver’s Files Chapter 11 Bankruptcy

Major scrapbook retail chain Archiver’s filed for Chapter 11 bankruptcy Monday in U.S. Bankruptcy Court in Minnesota.

The Archiver’s board authorized the bankruptcy filing on April 25th via a written directive. In court filings, the retailer indicates that it intends to continue operating. The initial petition estimates the company has between $10-$50 million in assets, and $1-$10 million in liabilities, and indicates that the company believes there will be at least some funds available for distribution to unsecured creditors.

As a retailer, it’s not surprising that a large portion of the company’s top 20 unsecured creditors are product wholesalers. The largest unsecured creditor is EK Success, who is owed over $250,000. Also appearing on the top 20 creditors list are American Crafts, 3L, We R Memory Keepers, My Mind’s Eye, Bazzill, Love To Scrap, Doodlebug, BoBunny, Ranger, Silhouette, Pioneer, Pink Paislee, Ellison, and Queen & Company, who are owed between $55,000 and $200,000 each. The Archiver’s bankruptcy is a double hit for 3L, who was already listed as one of the top creditors in the Creative Memories bankruptcy a few weeks ago.

A meeting of creditors is scheduled for May 30th at the US Courthouse in Minneapolis. Proof of claims from creditors are due to the court by August 28th, an important deadline since the petition estimates that there will be funds to disperse to the creditors who submit claims. Continue Reading →

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Digital Trends | Black and More Black

A few weeks ago, I wrote about black being very trendy in the digital world: Digital Trends | Black. Well, this trend is not slowing down. Black is everywhere – even in spring-themed kits – right now. Let’s go take a look at some of the brand-new releases!

Pixels & Company

There are two new kits at Pixels & Company that feature black this week. The “New York State of Mind” kit features multiples pieces of black paper, many black elements and text stickers. The “Peeved” kit includes black papers as well as a bunch of black word art stickers and ribbons.

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New York State of Mind by Mommyish Continue Reading →

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