August 20, 2020
SFP Canada Ltd., a Mississauga, Ontario-based company that operates 76 retail stores across Canada under the Papyrus, Carlton Cards, and Paper Destiny brand names, filed for bankruptcy on August 20, listing approximately $7.7 million in liabilities, including $5.1 million to American Greeting Corporation. The company had already filed for CCAA protection in January 2020 and liquidated substantially all of its assets. Richter is the bankruptcy proposal. Canadian counsel is Osler for the company and Blakes for American Greeting Corporation.