WorkflowOne Initiates Voluntary Chapter 11 Proceeding
“The company has accomplished a lot during the past year and a half by realigning the organization to deliver better value to customers, improving the quality of operations and working capital management, increasing supply chain efficiency, and enhancing customer service. The finalization and implementation of the debt restructuring plan will provide the financial flexibility to operate more efficiently and position WorkflowOne to compete more effectively in the changing market environment.”
WF Capital and its subsidiaries have filed customary “First Day Motions” with the Bankruptcy Court, which, if granted, will help ensure a smooth transition to Chapter 11 without business disruption and no adverse impact on WorkflowOne’s employees, customers, certified trade partners and suppliers. The motions are expected to be addressed promptly by the Bankruptcy Court.
WorkflowOne customers and suppliers with questions about the debt restructuring process may call the Restructuring Information Line toll-free at (866) 419-7365. Court filings and claims information are available at www.kccllc.net/workflow. Information about Workflow’s restructuring is available at www.workflowone.com/restructuring.
WorkflowOne provides print production and document management, billing and customer communication, marketing solutions and promotional strategies, and fulfillment and distribution services for North America’s most admired businesses and brands. The company’s solutions enable faster time to market, significant cost savings and greater peace of mind. WorkflowOne has been ranked #1 among print distributors by Print Professional magazine over the past four years, the “Top Distributor of 2009” by Print Solutions magazine and recognized with the Supplier Performance Award by Premier Healthcare Alliance. Its core proprietary technology helps eliminate inefficiencies, enables collaboration and connects clients with WorkflowOne. For more information, visit www.workflowone.com or call toll-free (877) 735-4966.
Source: Press release.