Somerset Graphics of Mississauga, Ontario, closed its doors on January 31 and entered receivership. The high-end commercial printing operation, well known across the Greater Toronto Area, was running out of a 20,000-square-foot facility, built by Jack and Beth Youngberg 37 years ago. Their two sons, Chris and Jeff, had been involved with the company for 21 and 17 years, respectively.
“Beth and I always agreed that we never wanted our business to become a hobby,” says Jack Youngberg, when asked why the company was shut down. “To continue to succeed in the current market was a factor in our decision. Our industry has become very competitive and commoditized.”
Somerset’s 29-inch, 6-colour Kormori HUV press, which was installed in mid-2013, has been sold to an unclosed printer. It was equipped with automatic plate changers and wash-up systems, with an ability to be used for both conventional printing or UV. Youngberg explains they are working on the sale of all other assets.
Youngberg explains they did not sell Somerset’s book of business, providing each account representative with the opportunity to maintain their current accounts and take them where ever they go.
“The industry is saturated. Everyone is chasing the same dollars. Supply outweighs demand,” says Youngberg. “The industry for the most part has been a very exciting wonderful area to work in. Somerset’s employees, clients and suppliers have all contributed to our success.”