Based in Uniondale, New York, National Envelope Corporation filed for Chapter 11 bankruptcy protection on June 10, while describing its intentions to reorganize under a financial-restructuring plan.
Founded in 1952, National Envelope now claims to be the largest manufacturer of envelopes in the world, with 14 manufacturing facilities, two distribution centres, and approximately 3,500 employees in the U.S. and Canada.
The company expects to keep all of its facilities open during the Chapter 11 reorganization process.
“The strategic reorganizing of National Envelope is well underway,” stated Stephen Gawrylewski, Chief Restructuring Officer and Interim CEO. “We have been constrained by our capital structure and by the unprecedented economic slowdown…fortunately, the fundamentals of our business remain strong and provide an excellent foundation for the future.”