Exhibit 12.1



Paperweight Development Corp. and Subsidiaries

Statement of Computation of Ratio of Earnings to Fixed Charges

(unaudited)



|                                                  |  | Three Months Ended |        |                     |   |                   |  |                                                       |        |                                                      |   |        |  |      |       
|------------------------------------------------- |  | ------------------ | ------ | ------------------- | - | ----------------- |  | ----------------------------------------------------- | ------ | ---------------------------------------------------- | - | ------ |  | ---- | ------
|                                                  |  | (Successor Basis)  |        | (Predecessor Basis) |   | (Successor Basis) |  | Predecessor Basis                                     |       
|                                                  |  | March 30, 2003     |        | March 31, 2002      |   | 2002              |  | For the Period November 10, 2001
to December 29, 2001 |        | For the Period December 31, 2000 to November 9, 2001 |   | 2000   |  | 1999 |       
|Net earnings from continuing operations           |  | $                  | 7,771  |                     | $ | 10,486            |  | $                                                     | 10,092 |                                                      | $ | 7,616  |  | $    | 37,183
|Add: Income tax expense                           |  |                    | 91     |                     |   | 79                |  |                                                       | 503    |                                                      |   | 117    |  |      | 20,625
|Add: Interest expense                             |  |                    | 13,550 |                     |   | 19,373            |  |                                                       | 68,354 |                                                      |   | 10,638 |  |      | 25,441
|Minority interest in net earnings of subsidiaries |  |                    |       |                     |   |                  |  |                                                       |       |                                                      |   |       |  |      |      
|Equity in net income of unconsolidated affiliates |  |                    |       |                     |   |                  |  |                                                       |       |                                                      |   |       |  |      |      
|Portion of rent deemed interest factor            |  |                    | 691    |                     |   | 735               |  |                                                       | 2,930  |                                                      |   | 386    |  |      | 2,485 
|                                                  |  |                    |        |                     |   |                   |  |                                                       |        |                                                      |   |        |  |      |       
|Total earnings available for fixed charges        |  | $                  | 22,103 |                     | $ | 30,673            |  | $                                                     | 81,879 |                                                      | $ | 18,757 |  | $    | 85,734
|                                                  |  |                    |        |                     |   |                   |  |                                                       |        |                                                      |   |        |  |      |       
|Fixed charges:                                    |  |                    |        |                     |   |                   |  |                                                       |        |                                                      |   |        |  |      |       
|Interest expense                                  |  |                    | 13,550 |                     |   | 19,373            |  |                                                       | 68,354 |                                                      |   | 10,638 |  |      | 25,441
|Portion of rent deemed interest factor            |  |                    | 691    |                     |   | 735               |  |                                                       | 2,930  |                                                      |   | 386    |  |      | 2,485 
|                                                  |  |                    |        |                     |   |                   |  |                                                       |        |                                                      |   |        |  |      |       
|Total fixed charges                               |  | $                  | 14,241 |                     | $ | 20,108            |  | $                                                     | 71,284 |                                                      | $ | 11,024 |  | $    | 27,926
|                                                  |  |                    |        |                     |   |                   |  |                                                       |        |                                                      |   |        |  |      |       
|Ratio of earnings to fixed charges                |  |                    | 1.6    |                     |   | 1.5               |  |                                                       | 1.1    |                                                      |   | 1.7    |  |      | 3.1   
|                                                  |  |                    |        |                     |   |                   |  |                                                       |        |                                                      |   |        |  |      |