The Antioch Co., the St. Cloud-based parent of Creative Memories, has announced that it has successfully emerged from Chapter 11 proceedings.
St. Cloud scrapbooking company comes out of Chapter 11
February 9, 2009 at 3:31PM
An order confirming the company's plan of reorganization was signed Jan. 27 by federal bankruptcy Judge Guy R. Humphrey in southern Ohio.
Creative Memories has been a leading retailer in the scrapbooking industry for more than 20 years.
As a result of the financial restructuring, the company said it successfully reorganized its debt "while continuing to maintain normal, uninterrupted business operations."
"This is an extremely happy day for Creative Memories," said Asha Morgan Moran, president of Creative Memories. "We're thrilled to emerge from these proceedings in such a timely fashion."
Moran said that with bankruptcy behind the company, it can now "invest for the future by expanding our digital scrapbooking solutions while remaining true to our roots in providing top-quality service and innovation in the traditional scrapbooking market."
Creative Memories specializes in selling photo albums, scrapbooking materials, digital photo books, and photo organization software. It markets its products at in-home get-togethers through more than 55,000 independent sales consultants worldwide.
Paul Walsh • 612-673-4482
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