Kendall Printing Shuts Down
Kendall Printing, Greeley, CO, suddenly ceased operations last week, owing $7.4 million in unpaid loans and $150,000 in back taxes.
Lisa Cross, Senior Editor -- Graphic Arts Online, November 18, 2009
Kendall printing recently added a 10-color Heidelberg Speedmaster 102 perfector
Kendall Printing, Greeley, CO, suddenly
ceased operations last week, owing $7.4
million on six unpaid loans (mostly for equipment) and $150,000 in back taxes. Founded in 1984, the ISO 9002, G7 and FSC certified sheetfed commercial printing firm produced marketing materials,
posters, magazines and offered fulfillment services.
The Greeley Tribune reports the 25-year-old printing company closed after not reaching an agreement with Summitbridge Credit Investments, which bought Kendall Printing's loans from New Frontier Bank. The lender closed in April, its loan portfolio acquired by Summitbridge as the Federal Deposit Insurance Corp. liquidated the banks's assets. The Greeley Tribune reports Kendall was negotiating to be acquired by a Wyoming printer, but the deal fell through when Summitbridge move to collect receivables directly from clients. New Frontier was also a Kendall client.
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How's that Hope and Change workin' for ya?
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