Bankrupt Winnipeg Printer Closing Doors
WINNIPEG, MANITOBA—Less than a month after being placed in receivership, the Printcrafters Group of Companies is closing its doors, leaving more than 125 employees out of work, according to the Winnipeg Free Press. The printer reportedly owes nearly C$10 million to banks, financial institutions and unsecured creditors, including Xerox at C$2 million.
Printcrafters had embarked on an aggressive mergers program during the past 10 years, acquiring Westcan Printing Group, Dave's Quick Print, Kildonan Printing and Globally Boundless, the Free Press reported. A commercial printing operation, Printcrafters also produced books and periodicals.