Paperworks Studio in Traverse City has one more year to become solvent.
Grand Traverse Industries will take over the financially troubled business in March. The head of GTI, Steve Perdue, says they need to see by September that it is possible for Paperworks to break even by next January.
"That’s our target," says Perdue "We’re going to give it our very best."
Paperworks was born from a special education program and employs people with disabilities to make greeting cards on handcrafted paper. The business has been widely praised for enriching the lives of its employees and sales have soared in recent years but it still lost more than $160,000 last year.
The owner since 2009, Goodwill Industries of Northern Michigan, announced in November that it was done with the program.
GTI runs a number of businesses that also employ workers with disabilities. Steve Perdue, says they specialize in training and directing employees with special needs.
"We can make vast improvements at how the job gets done over there."
Goodwill will remain involved until September.
