The disclosure teaches a dispensing package for elongated strands, such as cord, thread, yarn or the like, wound on a spool. The package is made of a rigid but flexible material, and preferably, an oleofin plastic material. The package includes a floor member and a parallel ceiling member spaced from the floor member by a wall structure. The wall structure includes a two-walled arrangement consisting of two walls at an angle to each other and connected to each other at a common edge thereof. A third wall is opposite to the two-wall arrangement and consists of tab members extending from both the floor and ceiling members. Attachment means are included on the tab so that the third wall can be either fastened or unfastened. An opening in the two-walled arrangement includes a blade holder which extends into the opening. Side notches in the side edges of the two-walled arrangement comprise retaining means for retaining the free end of the strands.