Direct Mail Company Goes Bankrupt

With hundreds of thousands of dollars in legal judgments hanging over its head, ICM Inc., a local (Richmond, VA) direct mail and advertising company, filed for Chapter 7 bankruptcy Thursday. That means it will be liquidated. The company, also known as In Control Mailing Inc., had assets of $128,000 but owed more than $1.81 million all over town, according to the bankruptcy filings.

ICM has been battling lawsuits for breach of contract and money owed filed by vendors including Xerox, Kenmore Envelope Co., Sir Speedy and Pitney Bowes, among others, the filings show.