More Archiver's Closings

[muzbysmom]

Got an email this morning. Two Twin Cities stores, Nashville, and a fourth city I can't remember right now are closing. What a shame! I love Archivers! Lucky for me I'll still have stores open in my area but the closest store to me is one that's closing. They are having a going out of business sale so I'll head up there in a bit to check things out.....

[madameplushbottom]

Which two in the twin cities are closing?

[muzbysmom]

Mall of America and Coon Rapids.

[madameplushbottom]

thank you

[mommie2quads]

Hey Muzbysmon, did you find any good deals at the closing Archivers? What type of discounts are they offering, 30%, 40%? Are they selling any of the store fixtures, paper trays, workroom tables? Let us know, thanks.

[muzbysmom]

All they are offering is 30% off. Remember, they can transfer stock to other stores in the Twin Cities. I'm not sure about fixtures, paper trays, etc. Maybe you should call them? I only went there the same day I got the email and haven't been back since. Maybe Sunday?

[Ginger_P]

I was at MOA last night. They are having 25% sale now. Alot of Scrapfest stuff was there from this year and the past.

[Alice in Md]

Full announcement from Scrapbook Update:
Archiver?s to Close Mall of America Store, 4 others

Archiver�s to Close Mall of America Store, 4 others

October 8, 2013 by Nancy Nally

Archiver�s announced on September 27th that they are closing five additional store locations, including their flagship Mall of America store, as part of their ongoing financial difficulties that lead to the bankruptcy that was filed in April.

In addition to the Mall of America store, Archiver�s is closing their Coon Rapids (MN), Gurnee (IL), Nashville (TN), and North Olmsted (OH) stores. The Mall of America store will close �mid-October� according to Archiver�s, and the other locations will close on October 20th.

This round of closures will bring Archiver�s down to only 33 store locations, a significant reduction after they started 2013 with 44 store locations. In February, the company�s Memphis store closed, leaving the area without a scrapbook retailer. This was followed in early April by Algonquin, Fort Wayne, and South Austin closing. Two Chicago area locations were then closed in June. And now, the five additional stores are closing in October � for a total of 11 shuttered stores in 2013, 25% of their locations lost this year.

Bankruptcy records show that Archiver�s met their sales goals for July and August but various factors, including heavy discounting, lead them to miss their financial goals for those months, and the company is still operating at an average net loss of over a half million dollars a month. September records have yet to be filed with the court and will be very important as they will contain the financials from Scrapfest, which is projected to help significantly.

The Mall of America store closure brings into question the future of Scrapfest, the massive scrapbooking event sponsored every September by the chain at the Mall of America and headquartered at their store in the mall. According to the company�s Facebook statement on the store closures, �We�d love to keep ScrapFest going, and are looking into all of the possibilities. We�ll keep you posted as we know more.�
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Coon Rapids, Minnesota is north of Minneapolis.
Gurnee, Illinois is north of Chicago.
North Olmsted, Ohio is a suburb southwest of Cleveland.