Appvion Inc. (summary below) filed for bankruptcy early Monday morning. This shouldn't have come as a surprise to people following the situation as (i) the company had previously issued a "going concern" warning and (ii) S&P Global Ratings had issued a credit downgrade. The First Day Declaration filed in conjunction with the bankruptcy notes that the thermal paper segment is being counted on for growth. Seems like that segment, then - currently 60% of net sales - would be the cornerstone of a restructuring. It's not clear from the papers how much of that business is point-of-sale receipts and coupons. We HAVE to imagine, though, that that portion of the segment is under threat. To point, note that on Monday Shake Shack ($SHAK) announced that it will be testing a cashless kiosk near New York University in New York City's East Village neighborhood. Cashless and receipt-less. Notably, Sweetgreen has also taken this step. Disruption, in real time.