29 March 2012
Ironstone Media planning to restructure
PICKERING—Ironstone Media Corporation in Pickering is working on a plan to restructure, but its director of sales stressed the company is not bankrupt.

The commercial printer and digital edition expert has filed a notice of intent to file a proposal (NOI) to allow it to "develop an acceptable plan to restructure our finances and general operations," noted Kelly Dirken of Ironstone. "We are not bankrupt."



Dirken said the process is supported by its bank, suppliers and customers. "We anticipate that within a short period of time we will have accomplished our restructuring goals, and will continue to be one of the dominant print suppliers in the publication printing marketplace," he noted, adding in the meantime it's "business as usual."

Ironstone describes itself as a "hybrid print" company, "a family of operations providing innovative, creative, cross–media solutions for clients that rely on conventional, digital and virtual print to deliver their brand's message." The company prints magazines and other material, with a complete in-house bindery and mailing department.

Ironstone Media Corporation ranked 42nd in the June 2011 Graphic Monthly Canada Gold List of the top 100 printers in Canada by sales volume, with a reported $26,250,000 in sales in 2010. At the time, the company had 100 employees. The corporation started as Web Offset Publications in 1961.
Comments:
4. I Know The Truth says:
27 April 2012 at 9:13 AM
I have heard from industry insider that the restructuring will not work. This company is DONE!
3. Lol says:
5 April 2012 at 10:02 AM
20 cents on the dollar over 3 years, so long sucker.. You'll be done in 6 months.. Run now if you can..
2. Rvd says:
30 March 2012 at 1:50 PM
And another one bites the dust. We are in a dying trade, with no relief in sight.
1. Iknowthe Truth says:
29 March 2012 at 12:39 PM
Hmmmm, we are not bankrupt we just don't have any money! I hope no one gets shortchanged in the restructuring.
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