National Envelope Secures Financing, Sees Strong Support14 Jun, 2013
Frisco, Texas – June 14, 2013 – National Envelope, the nation’s largest, privately-held envelope manufacturer, secured over $65 million in DIP (Debtor In Possession) financing and saw a strong outpouring of support from business partners after filing for Chapter 11 bankruptcy protection on Monday and obtaining court approval of first day motions on Tuesday.
“We continue to be focused on the needs of our customers, and we are receiving an overwhelming level of support from them and from our employees and local government officials in the cities where we operate, as well as our suppliers,” said CEO, Jim Pinto. “We have been honored by the response we’ve received over the past few days, and we are grateful to have partners so dedicated to our mutual success.”
Despite speculation and misinformation present in the marketplace, National Envelope has no plans to close any facilities or conduct layoffs, and it is continuing operations, conducting business as usual.
With several interested potential buyers, the company is anticipating a smooth sale process.
About National Envelope
National Envelope is the largest privately-held manufacturer of envelopes in North America. The company is an environmental leader in the paper and envelope converting industries with certifications from the Forest Stewardship Council (FSC), Rainforest Alliance, Sustainable Forestry Initiative® (SFI), Programme for the Endorsement of Forest Certification (PEFC), and Green Seal. The organization is also an EPA Green Power Partner. For more information about National Envelope, please visit http://www.nationalenvelope.com