A pallet sleeve 18 for a pallet assembly 10 has a pair of laterally spaced upper slots 36 and a pair of laterally spaced lower slots 34 that are vertically aligned with the upper slots 36. A cord 64 extends through the slots 36 and 34 and has handles 68 and 72 secured to its distal ends 66,70. The sleeve is made from corrugated cardboard with the corrugations running with the vertical slots such that the handles can be pulled to rip the cord 64 through the cardboard from the interior side to the exterior side to remove a panel 44c and create an opening 80 in the side of the pallet sleeve.