Texas-based National Envelope, which filed for Chapter 11 in June, has announced it has signed an agreement with Cenveo to sell substantially all of its operating assets.
“We’re very happy with the outcome of the Chapter 11 proceedings,” Jim Pinto, National Envelope CEO, stated. “All parties involved worked diligently to see that the company was sold through the bankruptcy process and received the best possible outcome. This sale ensures the best result for all interested stakeholders, including debt holders, owners, creditors, customers and employees.”
The company has asked the US Bankruptcy Court for the District of Delaware authorize the Company to proceed with a sale of the assets of the business on September 13, 2013. The company says it will ensure a smooth transition and that orders will continue to be produced and shipped in the normal course of business.
In November 2010, Cenveo acquired Envelope Products Group from MeadWestvaco for an undisclosed sum involving more than 900 employees. Cenveo today has more than 18 envelope facilities across the United States.
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