RE:RE:Loaded upKeep loading boys tells me some of you are clueless, the envelope business
is a dying business did you guys read the latest news
| Robert Burton CEO of Cenveo and formerly of Moore Business Forms |
Cenveo the largest manufacture of envelopes in North America has filed for Chapter 11.The 99 year old company at one time know as Mail Well has about 40 plants in the US. With sales of about $1.5 billion , debt of $1.4 and only assets go $790 million it was running out of cash. Envelopes made up 47% of their sales the rest was labels, commercial printing and publisher services. They had about 50 plants in the US and 5,200 employees. They blame the shift by marketers from the mailbox to the internet.
and when you buy a printing business that was running 24/7 and in about a years loose
all the costumers and shut it down putting the employees out of work, should tell you how this business is run throwing shareholders money away