Paper Source bankruptcy and Ministry of Supply office clothing pivot
Hi all - hope you are doing as well as can be these days, and that we are seeing the light at the end of the tunnel. I wanted to share my latest two stories with you:
The first is about Paper Source’s bankruptcy last week and how it has left many women-led cardmakers in a difficult situation. I spoke with several who are owed anywhere from $8,000 to more than $20,000 and were asked to fulfill big orders (and even rush ship them) just before the bankruptcy filing. As the company works to restructure and continue operating, these small businesses have put a face to the fallout from Chapter 11 filings.
The other story is about Ministry of Supply, a small office apparel startup in Boston, which thought that 2020 would be a breakout year for its business. The company’s board approved new investments in dress shirts/suits/dresses and stores on March 3, 2020 — but we all know what happened next. Ministry of Supply’s leaders walked me through their thinking in the past year and how they overhauled the brand’s products, marketing and operations during the pandemic to suit a changed world. I was especially fascinated by how a company that orders items 6 months in advance has had to readjust in this period.
I am aiming to be better about emailing my stories out this year! Call it a 2021 resolution. Since I last messaged, I’ve also reported on the plight of retail workers in 2020, merchandise tied to the Jan. 6 Capitol riot, grocery store employees and vaccinations, the frenzy around MyPillow and Mike Lindell (part 1 and part 2), Peloton delivery delays — and a bunch of other things.
Let me know what else I should be writing about and what you’re paying attention to these days! Thank you as always for reading.
All best,
Sapna