The party’s over. A Minnesota-based party supply chain is closing two-dozen stores nationwide, including three in Iowa. Paper Warehouse has announced it’s shutting down the 24 underperforming stores in seven states as it files for Chapter 11 bankruptcy protection. Paper Warehouse is based in the Minneapolis suburb of St. Louis Park and six of the stores being closed are in the Twin City metro area. In Iowa, the three stores that are closing are located in Des Moines at Southdale Shopping Center, Ankeny at Northside Plaza and Iowa City at Pepperwood Place. Paper Warehouse’s other 113 locations will remain open during reorganization. Company officials blame the financial troubles on the events following 9/11, the weak economy and the war with Iraq.
