Finlay Printing Reportedly Closing Shop
BLOOMFIELD, CT—Finlay Printing, a $20 million commercial and specialty print provider, was set to close its doors after more than 135 years in business, the Hartford Courant reported. Its 55 employees were informed of the move late last week and the final jobs were being finished this week.
The Courant reported that Allied Printing in Manchester, CT, had hired a number of former Finlay employees. One Finlay employee told the paper the company was closing due to financial problems stemming from the 2008 repurchase of the firm from Atlanta-based priNexus.
The owners, Todd and Kevin Kalagher, had taken on substantial debt to repurchase Finlay, but the economy and flagging printing industry made it difficult to repay the debt, the employee told the paper. That prompted the decision to close up shop.
Kevin Kalagher did not immediately respond to a request for comment. The company, founded in 1876 and featured in a 2005 issue of Printing Impressions, ranked 236th on the 2011 PI 400 list of top U.S. printers listed by annual sales.