Exhibit 12.1



Paperweight Development Corp. and Subsidiaries

Statement of Computation of Ratio of Earnings to Fixed Charges

(unaudited)



|                                                  |  |                   |         |                   |      |   |        |  |                                                      |        |                                                    |   |        |  |   |        |  |   |        
|------------------------------------------------- |  | ----------------- | ------- | ----------------- | ---- | - | ------ |  | ---------------------------------------------------- | ------ | -------------------------------------------------- | - | ------ |  | - | ------ |  | - | -------
|                                                  |  | (Successor Basis) |         | Predecessor Basis
|                                                  |  | 2004              |         |                   | 2003 |   | 2002   |  | For the PeriodNovember 10, 2001 to December 29, 2001 |        | For the PeriodDecember 31, 2000 toNovember 9, 2001 |   | 2000  
|Net earnings from continuing operations           |  | $                 | (25,031 | )                 |      | $ | 11,159 |  | $                                                    | 10,092 |                                                    | $ | 7,616  |  | $ | 37,183 |  | $ | 66,161 
|Add: Income tax expense                           |  |                   | 249     |                   |      |   | 83     |  |                                                      | 503    |                                                    |   | 117    |  |   | 20,625 |  |   | 32,874 
|Add: Interest expense                             |  |                   | 49,595  |                   |      |   | 54,160 |  |                                                      | 68,354 |                                                    |   | 10,638 |  |   | 25,441 |  |   | 43,244 
|Minority interest in net earnings of subsidiaries |  |                   |        |                   |      |   |       |  |                                                      |       |                                                    |   |       |  |   |       |  |   | 1,230  
|Portion of rent deemed interest factor            |  |                   | 3,347   |                   |      |   | 2,662  |  |                                                      | 2,930  |                                                    |   | 386    |  |   | 2,485  |  |   | 3,394  
|                                                  |  |                   |         |                   |      |   |        |  |                                                      |        |                                                    |   |        |  |   |        |  |   |        
|Total earnings available for fixed charges        |  | $                 | 28,160  |                   |      | $ | 68,064 |  | $                                                    | 81,879 |                                                    | $ | 18,757 |  | $ | 85,734 |  | $ | 146,903
|                                                  |  |                   |         |                   |      |   |        |  |                                                      |        |                                                    |   |        |  |   |        |  |   |        
|Fixed charges:                                    |  |                   |         |                   |      |   |        |  |                                                      |        |                                                    |   |        |  |   |        |  |   |        
|Interest expense                                  |  |                   | 49,595  |                   |      |   | 54,160 |  |                                                      | 68,354 |                                                    |   | 10,638 |  |   | 25,441 |  |   | 43,244 
|Portion of rent deemed interest factor            |  |                   | 3,347   |                   |      |   | 2,662  |  |                                                      | 2,930  |                                                    |   | 386    |  |   | 2,485  |  |   | 3,394  
|                                                  |  |                   |         |                   |      |   |        |  |                                                      |        |                                                    |   |        |  |   |        |  |   |        
|Total fixed charges                               |  | $                 | 52,942  |                   |      | $ | 56,822 |  | $                                                    | 71,284 |                                                    | $ | 11,024 |  | $ | 27,926 |  | $ | 46,638 
|                                                  |  |                   |         |                   |      |   |        |  |                                                      |        |                                                    |   |        |  |   |        |  |   |        
|Ratio of earnings to fixed charges                |  |                   | 0.5     |                   |      |   | 1.2    |  |                                                      | 1.1    |                                                    |   | 1.7    |  |   | 3.1    |  |   | 3.1    
|                                                  |  |                   |         |                   |      |   |        |  |                                                      |        |                                                    |   |        |  |   |        |  |   |