- August 08, 2013
FRISCO, TX | National Envelope secured more than $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 recently and obtaining court approval of first day motions.
“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,” says CEO Jim Pinto. “We have been honored by the response we’ve received, and we are grateful to have partners so dedicated to our mutual success.”
The company reports it has no plans to close any facilities or conduct layoffs, and it is continuing operations and conducting business as usual. With several interested potential buyers, the company is anticipating a smooth sale process.