National Litho Files Chapter 11 as it Seeks Buyer
MIAMI LAKES, FL—National Litho, a sheetfed and web printer with 100 employees, has filed for Chapter 11 bankruptcy protection as it seeks a buyer. According to the South Florida Business Journal, the firm is in talks with a number of "large" printing companies.
Citing bankruptcy court filings, the paper reported National Litho has debt of almost $10 million and lists assets of $8.38 million. In addition to providing Web-to-print services, the company specializes in producing point-of-sale premium products.
The Journal reported that National Litho will continue to operate as usual during the bankruptcy process. It has engaged turnaround firm Brownstein Corp. of Philadelphia as a financial advisor.
According to the filing, National Litho owes money to the following companies: Perez Trading, Miami, $237,099; Sea World, Orlando, FL, $251,262; Southern Paper, Miami, $206,013; Alliance Converting, Miami, $173,195; Fastkit, Doral, FL, $132,833; Case Paper, Miami, $121,127; Transportation Management Solutions, Pembroke Pines, FL, $83,413; and Miami Quality, Miami, $68,760.
National Litho is reportedly one of the largest Hispanic-owned companies in the United States. It is affiliated with both National Communications and SCP Graphics, neither of which has filed for bankruptcy.