Printer TPO Hess Holdings Files for Bankruptcy Protection

TPO Hess Holdings filed for bankruptcy protection from creditors, citing a slump in the industry and the global economic downturn. The Kent, OH-based company, formerly known as Hess Print Solutions, listed assets of as much as $50,000 and debt of as much as $100 million in a court filing in Delaware.

After a turnaround effort, the company “continued to be adversely affected by overall macroeconomic challenges, industry wide overcapacity and increased pricing pressure” from competitors, according to court papers.

The company plans a sale to Bang Printing, Brainerd, MN, subject to an auction, for about $19.2 million, court papers show.