Scrapbooking Industry Hit Again As Archiver’s Shutters
The scrapbooking industry will soon lose another company as Minnetonka-based Archiver’s announced Friday that it’s going out of business in mid-February.
The scrapbooking, paper-crafting, and card-making company said in a message on its website that its customers’ needs have changed and that, over the past five years, “a combination of a weak economy and new technology resulted in steady declines in the memory craft business.”
Archiver’s will be closing all 33 of its stores, which span 18 states. The company will lose about 30 employees from its headquarters and about a dozen employees per store, totaling around 400 employees.
The scrapbooking chain filed for Chapter 11 bankruptcy protection at the end of April in order to reorganize its business and restructure $10 million in debt. That move came just two weeks after St. Cloud-based scrapbooking company Creative Memories also filed for bankruptcy protection.
Archiver’s opened 14 years ago amid a scrapbooking boom, but as the industry shifted to a stronger digital focus it was forced to compete with digital photo giants like California-based Shutterfly, Inc., which is now expanding to Shakopee.
Archiver’s wrote that in the midst of this industry change, it tried to adapt with new products and new digital offerings but that its stores simply didn’t generate enough sales to support the overall business.