Recession takes a cut out of scrapbooking

With consumers cutting their discretionary spending to save money during the recession, it is no surprise that scrapbooking supply companies are experiencing financial trouble. Creative Memories and Archiver’s, both suppliers of scrapbooking supplies and accessories, filed for relief under Chapter 11 of the US Bankruptcy Code. In addition to dealing with reduced revenues due to the recession, scrapbooking supply companies must also deal with the increased availability of technology via the internet and computers.

For more details about these bankruptcies read, “Scrapbook Supply Companies Clip out Chapter 11 Petitions.”

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