ECONOMY
SCHURMAN RETAIL GROUP FOUNDED IN 1950 FILES FOR BANKRUPTCY
Glory to God! I trust you’re well and enjoying your Inheritance in Christ Jesus.
This is a further update on the Prophetic Word I receive last year regarding companies that have existed for generations filing for bankruptcy and shutting down.
Last year we saw Thomas Cook, a 178 year old travel firm shut down; I recently shared a post about McDermot’s shutdown, a 97 year old multinational engineering company; this morning I posted an update on Krystal’s bankruptcy, an 88 year old fast food chain based in the US; and now yet another old corporation has filed for bankruptcy.
But this time it’s Schurman Retail Group a holding company that has affected its subsidiaries as well. Schurman Retail Group is an American stationery, greeting card, gifts, and paper products company based in Fairfield, California. The company operates brands and retail stores under the names Papyrus, NIQUEA.D, and Paper Destiny.
Schurman was founded in 1950, which means it was 70 years old, has dragged down Papyrus with it. Papyrus was founded in 1973, which means it traded for 47 years.
The company says it will close 178 stores in 27 states and the District of Columbia, and 76 locations across Canada. Most stores will close by the end of February. More than 1 000 Papyrus employees will lose their jobs.
I thank God for the Office of the Prophet and the Gift of Knowledge. I give Him all the Praise and all the Honour for His Foreknowledge. God never lies. Thank You Lord.
Here is the full news article.