The Signal: Over the final week of January 2020, Tennessee-based Schurman Fine Papers — which sells artsy stationary and Papyrus-branded greeting cards — filed for bankruptcy with a stated intention to close all 254 of its stores and unload its inventory.

Specifically, it is the speciality store chains bearing the names that will be no more. The Papyrus brand will live on (via American Greeting) and cards can still be purchased at retailers such as Target and Whole Foods.

The stated reasons for Papyrus shuttering down its brick ‘n mortar stores — overexpansion and falling foot traffic — is consistent with other recent retail bankruptcy filings. However, the reality is that the entire greeting cards business is shifting away from the brick ‘n mortar retail model, with retailers like CVS looking to repurpose that precious real estate.