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18 July 2018
Burton to Leave Cenveo After Creditors Complained
STAMFORD—
Robert Burton forced out of Cenveo
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Bankrupt Cenveo North Americas largest envelope manufacturer announced CEO Robert Burton Sr. would retire and be replaced by son and President Robert Burton Jr. when the company emerges from Chapter 11. Cenveo expects to emerge from Chapter 11 this summer, with agreements from major creditors and a reorganization plan. The company filed for bankruptcy at the being of this year.
North Americas Largest Envelope Manufacture
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Burton Sr. will remain as an adviser to Cenveo until the end of December and remain as shareholder. Burton Sr. has been with the company since 2005. Cenveo’s liabilities included $1.1 billion of debt. After bankrupty and a revised agreement with secured debt holders the debt will be reduced to $100 million.
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