Not adjusting to the times. by Nancy Nally (December 1, 2008) (Note: For the latest on the Creative Memories bankruptcy, read Nancy’s reports at her Scrapbook Update site, www.scrapbookupdate.com.) Creative Memories arguably founded the scrapbook industry as we know it today. So how did the company end up in bankruptcy court recently, filing for a Chapter 11 restructuring of their debt? Certainly the general scrapbook industry downturn has played a role in the company’s problems. But other large companies in the industry are continuing on and adjusting to the changing marketplace. What’s the difference between them and Creative Memories? To put it simply, Creative Memories didn’t adjust to the changing consumer climate. Unlike other scrapbook companies, which sell products intended for consumers to use however they wish, Creative Memories operates based on selling a philosophy. The Creative Memories philosophy is very narrow and based on rigid adherence to archival principles and simpl