Allen Printing Files for Bankruptcy Protection
NASHVILLE, TN—Allen Printing has filed for Chapter 11 bankruptcy protection in federal court, the Nashville Business Journal reported, burdened by more than $1 million in liabilities. Co-owner Paul Heffington told the newspaper he believes the "worst is behind us" and that the restructuring will put the company's financial standing on firmer ground.
Pinnacle National Bank is Allen Printing's primary secured creditor. The printer is working closely with its major creditors, though it does not have a fully prepackaged reorganizational plan in place, the paper said. The company currently employs 40 people.