UNITED STATES ~~SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549~~

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the ~~Securities Exchange Act of 1934~~

~~Date~~Securities Exchange of Act ~~Report (Date~~ of ~~earliest event reported) September 17, 2001~~1934

~~PAPER~~Date ~~WAREHOUSE,~~of ~~INC.~~ Report (~~Exact~~Date ~~name~~ of earliest ~~registrant~~event asreported): ~~specified~~September ~~in its charter)~~24, 2002

Minnesota	0-23389	41-1612534
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

PAPER WAREHOUSE, INC.

~~7630 Excelsior~~(Exact ~~Boulevard Minneapolis,~~name ~~Minnesota 55426~~of registrant ~~(Address~~ as ofspecified ~~principal~~in ~~executive~~its ~~offices~~charter) ~~(Zip code)~~

~~Registrant’s~~Minnesota ~~telephone~~(State ~~number,~~or ~~including~~other ~~area code:~~ jurisdiction of incorporation) 0-23389 (~~952~~Commission File Number) ~~936~~41-~~1000~~1612534 (I.R.S. Employer Identification No.)

~~Item~~7630 ~~5. Other~~Excelsior ~~Events~~Boulevard

~~On September 7, 2001, Paper Warehouse, Inc~~St. ~~(the~~Louis ~~corporation) signed a $15 million revolving credit facility with Wells Fargo Retail Finance LLC. On September 17~~Park, ~~the corporation issued a~~Minnesota ~~Press Release relating to the signing of the $15 million credit facility. The loan agreement is attached hereto as~~ ~~Exhibit 10.1 and the Press Release is attached hereto as Exhibit 99-1.~~55416

~~Item~~(Address 7. of principal ~~Financial~~ executive ~~Statements and Exhibits~~officers)

(c)	Exhibits
	10.1	Loan and Security Agreement Between Wells Fargo Retail Finance LLC and Paper Warehouse, Inc. dated September 7, 2001.
	99.1	Paper Warehouse Inc.’s press release dated September 17, 2001 relating to the signing of a $15 million revolving credit facility with Wells Fargo Retail Finance LLC.

(952) 936-1000

~~SIGNATURES~~(Registrant’s telephone Number, including area code)

~~Pursuant~~ITEM to5. ~~the~~OTHER ~~requirements~~EVENTS ofAND ~~the Securities~~REGULATION ~~Exchange~~FD ~~Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized~~DISCLOSURE.

	PAPER WAREHOUSE, INC.
Date: October 2, 2001
	By: /s/ Yale T. Dolginow
	Name: Yale T. Dolginow
	Title: President and Chief Executive Officer
	By: /s/ Cheryl W. Newell
	Name: Cheryl W. Newell
	Title: Vice President and Chief Financial Officer
	(Principal Financial Officer)
	By: /s/ Diana G. Purcel
	Name: Diana G. Purcel
	Title: Vice President and Controller
	(Principal Accounting Officer)

On September 24, 2002, Paper Warehouse, Inc. announced plans to reduce administrative costs, including approximately 26% of Paper Warehouse’s non-store payroll. Affected employees are eligible for packages that include severance pay, continuation of benefits and outplacement services. A copy of the press release issued by Paper Warehouse is attached to this Form 8-K as Exhibit 99.1 and is incorporated by reference into this Item 5.

~~Exhibit~~The ~~Index~~Company also announced on September 24, 2002 that as a result of the reduction of force, Cheryl W. Newell, vice president and chief financial officer, would be leaving the company. The Company’s vice president and controller, Diana Purcel, has been promoted to the position of vice president, controller and chief financial officer.

Exhibit No.	Description	Location
10.1	Loan and Security Agreement Between Wells Fargo Retail Finance LLC and Paper Warehouse, Inc. dated September 7, 2001.	Filed herewith electronically
99.1	Paper Warehouse Inc.’s press release dated September 17, 2001 relating to the signing of a $15 million revolving credit facility with Wells Fargo Retail Finance LLC.	Filed herewith electronically.

The press release filed as an exhibit to this report includes “safe harbor” language pursuant to the Private Securities Litigation Reform Act of 1995, as amended, indicating that certain statements about Paper Warehouse’s business contained in the press release are “forward-looking” rather than “historic.” The press release also states that these and other risks relating to Paper Warehouse’s business are set forth in the documents Paper Warehouse files with the Securities and Exchange Commission.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit 99.1 — Press Release dated September 24, 2002 issued by Paper Warehouse, Inc.
	(filed electronically herewith).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	PAPER WAREHOUSE, INC.


Dated: September 25, 2002	By	/s/ YALE T. DOLGINOW
		Yale T. Dolginow
		Chief Executive Officer

Exhibit Index

Exhibit No.	Description	Filing Method
99.1	Press Release dated as of September 24, 2002	Electronically herewith

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