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Tag Archives | Creative Memories

Creative Memories Seeks Court Permission For Close Outs, Program Modifications

Creative Memories is petitioning the court supervising its bankruptcy proceedings for permission to hold a large sale closing out product lines, as well as for permission to modify certain company programs, including the host rewards program, the rewards club, and gift certificates.

Creative Memories says that it intends to exit bankruptcy as a “smaller, more nimble company.” Numerous court filings seem to indicate the company intends to focus on simpler memory keeping options than their current product line, and also more on digital.

In the motion filed on June 12th, the company notified the court of its intentions to hold two sales: While Supplies Last and Last Chance Orders. Both of these close-outs will be for products which will not be part of the company’s future product line, but they will be handled in different ways. Continue Reading →

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Happy Birthday!

card-annex-01-16

Designer Susie Moore is Card Annex’s resident digital stamp aficionado, and today she has made a happy and fun birthday card with one from Bugaboo Digi Stamps.

The graphic block along with the two patterned paper areas create a very nice color blocked effect, and the rhinestones add some real sparkle to the colored stars. The round buttons create a visual triangle with the third round object on the card – the balloon – and add some curves to a card whose basic lines are all straight lines, softening them.

This shade of green was extremely prevalent in the new product lines at the CHA Winter 2013 show…I think we’ll be seeing a lot of it in 2013!

Supplies | Papers: Creative Memories. Cardstock: Papertrey Ink. Markers: Copic. Image: Bugaboo Digi Stamps (Make It Snappy -Happy Birthday). Buttons: Papertrey Ink. Misc: Ranger (Glossy Accents) and rhinestones (unknown).

Designer: Susie Moore

Susie Cannon Moore is married to her soulmate Randall, and between them they have five grown children – four boys and one girl – and five wonderful grandchildren. They live in a small country town called Maypearl, Texas. Susie has been paper crafting all her life, but started scrapbooking seriously in 1998. She  has been published in Paper Crafts and Just Steampunk, and also have been on HGTVʼ’s Crafterʼ’s Coast to Coast. Susie loves to scrapbook her family, and do mini books (mostly as gifts). Card making is also a passion she has embraced for years. As a computer nerd, she especially enjoys using digis. In May of 2011, Susie, who has been a dieaholic from the early Sizzix days, started a website devoted to crafting with dies. You can visit her website at The Dies Have It.


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May’s Product Picks: A Whimsical Halloween

Choices in scrapbook product go way beyond pumpkins and cobwebs for Halloween these days. There are a variety of choices in style, color, and mood in the latest lines, and today I’m going to spotlight some of my picks from this season for your fun and whimsical Halloween pages.

I’m not always a fan of trendy purple in my Halloween product, but with the super fun designs and very useful papers that make creating layouts a snap, I’ve fallen in love with Echo Park’s “Happy Halloween” collection. This new company is impressing me more and more with each new release, and this one is no exception. [available now at  Scrapbook.com | Two Peas]

Clutching our precious first bag of candy corn, my daughter’s photo went so perfectly with the papers and embellishments in the kit from Echo Park. I love the patterns and how fun they are to mix-and-match together. The stickers are cute too. They are a nice mix of big and small shapes.

Supplies:
Echo Park Sticker Sheet  [Scrapbook.com |Two Peas]
Echo Park Alpha Stickers  [Scrapbook.com | Two Peas]
Echo Park Jack-O-Lantern paper [Scrapbook.com | Two Peas]
Echo Park Skull paper  [Scrapbook.com | Two Peas]
Echo Park purple stripe paper  [Two Peas]
Tim Holtz Stickles in Marmalade   [Scrapbook.com | Two Peas]
Ranger Enamel Accents in White   [Scrapbook.com]
Scrapbook Adhesives by 3L MyStik tape runner [Scrapbook.com]

Another fun choice, right down to the festive flourishes, comes from Creative Memories and the aptly named “Cheerful Halloween” collection.

Next look at this favorite paper of mine and you can see that American Crafts is full of treats with the Boo collection. [available now at Scrapbook.com and Two Peas]

Still looking for more? I also recommend Doodlebug’s Spooky Town collection. It’s so full of their trademark cuteness, it makes me feel like a kid again. [Scrapbook.com | Two Peas]

I hope you liked the treats I shared with you here today. I’m looking forward to scrapbooking with lots of sweet products this season almost as much as I am looking forward to the candy itself. If you have a favorite product or style you like to scrapbook Halloween with, please feel free to share in the comments below!

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Lots of Changes at Creative Memories

A couple of recent St. Cloud (Minn.) Times articles have detailed a series of events at Creative Memories that seem to indicate the company is still working on recovering from its bankruptcy last year:

  • Asha Morgan Moran, the last remaining member of the Morgan family to hold a position with the company, resigned as the company’s Global President & CEO last month after the board of directors decided to replace her as CEO and offer her a different position. She was replaced by Chris Veit, who joined the company as COO after the bankruptcy.
  • The company announced May 11th that it was cutting 30 jobs, 6% of its payroll, mostly in its St. Cloud offices.
  • Sales from Nov. 2009 to April 2010 “suffered” in the recent words of Veit to the St. Cloud Times.

In other key statements to the media recently, Veit indicated that the company plans to release new products in August, and also acknowledged that the company cannot rely solely on growth in digital product sales to rescue the company.

In a related matter, although it doesn’t directly involve Creative Memories, former employee shareholders are still involved in a lawsuit against various individuals and firms that the suit blames for the loss of the employee shareholders’ pension value in the company’s bankruptcy. The only progress that has been made in the case since Scrapbook Update’s report on it in January is the denial of a motion by one defendant to dismiss the case. Lengthy litigation likely remains in the case.

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Creative Memories Executives Sued By Former Employee Shareholders

The Antioch Company Litigation Trust is suing 30 executives and firms who worked for Creative Memories over the company’s 2008 bankruptcy filing.

The trust was founded and funded as part of  The Antioch Company’s bankruptcy to serve the employee shareholders whose savings and retirement accounts held in Antioch Company stock were wiped out by the bankruptcy settlement. The trust’s purpose is to pursue compensation for those losses.

The list of defendants being sued by the Trust in the case include:

  • Lee Morgan
  • Asha Morgan Moran
  • Chandra Attiken
  • Steve Bevelhymer
  • Nancy Blair
  • Ben Carlson
  • Candlewood Partners LLC
  • CRG Partners Group, LLC
  • Michael Epstein
  • Evolve Bank and Trust
  • Karen Felix
  • Greatbanc Trust Company
  • Barry Hoskins
  • Houlihan, Lokey, Howard & Zukin, Inc.
  • Kimberly Lipson-Wilson
  • Wayne Alan Luce
  • Jeanine McLaughlin
  • Marty Moran
  • Lee Morgan GDOT Trust #1
  • Lee Morgan GDOT Trust #2
  • Lee Morgan GDOT Trust #3
  • Lee Morgan Pour-Over Trust #1
  • Lee Morgan Pour-Over Trust #2
  • G. Robert Morris
  • James Northrup
  • Paul Ravaris
  • Reliance Trust Company
  • Denis Sanan
  • Malte Von Matthiessen
  • Frederick Walker

Many in the scrapbook industry will recognize the name of CRG Partners. It is the same firm of turnaround/bankruptcy consultants that was hired by CK Media to advise it prior to its sale to New Track Media last year.

According to a statement issued by a representative on behalf of the members of the trust, the reason for the suit is that:

The Trust alleges that all of the defendants put their own interests ahead of the Company’s interests and that this self-dealing caused the Company’s demise.  The Trust alleges that Lee Morgan and Asha Morgan-Moran, both former chief executive officers of the Company, along with the officers and directors they enlisted, used The Antioch Company’s employee stock ownership plan to take enormous amounts of cash out of the Company, leaving it saddled with debt and in the hands of ineffective and conflicted management.  Even though the Company was entirely employee-owned, the Trust alleges that it was always operated for the benefit of the Morgan family and to the detriment of employees and creditors.  Among other things, the Complaint seeks an unspecified amount of damages for breaches of fiduciary duties and professional negligence.

The Yellow Springs (OH) News has taken an excellent look at events in the case that provides more details of the suit’s allegations.

Defendants in the case have until later this month to respond to the suit. A representative for Creative Memories has not responded to a request from Scrapbook Update for comment on the case.

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