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Wisconsin-Based Catalog Printing Powerhouse Arandell Files Chapter 11 Bankruptcy
August 18, 2020
Source: Midland Paper
Just on the heels of closing its Walton, Ky., printing plant the end of July, Arandell Holdings announced that the printing company, along with all its subsidiaries, voluntarily filed for business reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on Aug. 13. According to the Menomonee Falls, Wis.-based catalog printing specialist — which serves U.S. retailers and online merchandisers — Arandell has sufficient liquidity to continue operating its business.
“Given fundamental changes in the industry resulting from COVID-19 and other factors, company management is taking proactive and aggressive steps to improve the organization’s overall business framework, while continuing to pursue new business opportunities,” Brad Hoffman, Arandell’s chairman, president, and CEO, said in a prepared statement.
Specifically, Arandell has been impacted by store closings and supply chain disruptions resulting from the COVID-19 pandemic, in addition to the growing e-commerce marketplace and its impact on retailers. Arandell claims to operate the nation’s single largest web offset catalog production facility, printing more than one billion catalogs per year.
Arandell Corp. was ranked No. 51 on the 2019 Printing Impressions 400, reporting most recent fiscal year sales of $103 million. It is ranked only behind Sussex, Wis.-based Quad, which reported $629.1 million in catalog revenues. Arandell’s roots date back to 1922 as R&L Lithography in Milwaukee. It merged with the E.F. Schmidt Co. in 1981, and entered the catalog printing market in 1984 with its first major client, Neiman Marcus. Hoffman purchased Arandell from the Treis family in 2016.
more detail at: https://www.piworld.com/article/catalog-printing-powerhouse-arandell-files-chapter-11-bankruptcy/
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