Printing Industry News for Canada | RSS |
18 July 2018
Burton to Leave Cenveo After Creditors Complained
STAMFORD—
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.
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.
Post a Comment
Comments:
NEW ON THE JOB BOARD | RSS
CLICK HERE to post your job opening
LATEST USED EQUIPMENT | RSS
CLICK HERE to list your equipment
Total Used Equipment Listings: 18
CLASSIFIED | RSS
CLICK HERE to list your business opportunity in the printing industry
Most Recent News Comment
Rick says: | |
Most Read Stories