Paper Warehouse Franchise Company Acquired Out of Bankruptcy. Paper Warehouse, a publicly-traded Minnesota company that operates 62 and franchises 51 party supply stores in the Midwest under the names Paper Warehouse and Party Universe, decided to abandon its reorganization efforts and entered into a deal in its Chapter 11 bankruptcy to sell its assets to Party America, a California retailer. Party America will purchase the chain on or around August 18 for a reported $7 million and is expected to triple its annual revenue to $150 million. San Mateo County Times has the story.
Posted by franchiselawblog at August 11, 2003 03:32 PM