Leading Media Print Group Closes Down
PORTLAND, OR—Leading Media Print Group, created by the 2006 merger of Times Litho and Northwest Web, has gone under. The Times Litho plant of Forest Grove, OR, dismissed employees last Friday, leaving 70 people out of work, according to the Portland Tribune.
The Oregonian reported that the Northwest Web branch in Eugene suspended operations four weeks earlier, leaving 30 people out of work. Ken Mitchell, vice president of operations, told the Tribune that the printer had ample work, but fell victim to the credit crisis.
"What we're hearing is that the bank we're dealing with is having issues," Mitchell told the paper. "It's not feasible to go forward without cash flow."