Credit Crunch Kills Oregon Printing Company
By Graphic Arts Online Staff -- Graphic Arts Online, November 17, 2008
Leading Media Print Group, with plants in Eugene and Forest Grove, OR, ended operations because of rising debts and problems getting bank credit. The 70-employee company had plenty of work but was caught in the national credit crunch, said Ken Mitchell, operations VP, in an interview with a local newspaper. He said the firm’s bank was in trouble, and continuing to operate without cashflow was not an option. In bizarre foreshadowing, a
on the firm's website discussed what 2008’s bumpy market could teach about diversification, staying in the market and asset appreciation.
The company
was formed almost two years ago
when Northwest Web, $13.5 million in sales, acquired Times Litho, $12 million in sales. It printed large-scale circulars, catalogs, magazines and manuals for Market of Choice, Fred Meyer, Pacific University and the Portland Trailblazers.
During the summer, 25 positions were cut at its Eugene plant, followed by the closure of that facility.
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