Creative Memories is owned by the banks. It happened after Creative Memories filed for bankruptcy in 2008 and the banks were able to lay claim to whatever remained. Yes, employees at the time were told that they were being given a share of the new company, but that statement proved to be more fantasy than reality.
Creative Memories is about photography and storytelling. Banks are about finance.
Creating a Board of Directors that has expertise in finance but no experience in photography or storytelling does not help prepare the company for the future. A board without relevant experience lacks the expertise to ask the right questions.
Creative Memories is about emotion. Banks have no empathy.
A company that does not understand emotion cannot possibly understand the importance of memories. Photographs are more than printed pieces of paper or images stored in cameras.
Creative Memories is about growth. Banks are about the next quarter’s profit.
Growth requires investment and long term direction, not maximizing short-term returns. A company can always generate short-term revenue at the expense of the long-term health of the company.
All About Images Blog 
I did not attend leadership this year but I spoke to a leader after she returned and she told a story of roses and happy ending and that Cm was out of debt ,that they had paid off the banks and t=going forward would be very very good. Was she dreaming or was she really told this at leadership, I am so baffled