Quad/Graphics, Inc. announced that it intends to vigorously defend its proposed acquisition of LSC Communications (“LSC”) in response to the U.S. Department of Justice’s (“DOJ”) lawsuit seeking to block the acquisition. The all-stock transaction was announced on October 31, 2018, and was approved by shareholders of both companies on February 22, 2019. Quad intends to work together with LSC to contest the DOJ’s allegations. “We believe the acquisition of LSC will result in time- and cost-saving opportunities for clients while protecting jobs for employees. We also believe that the business combination will create a highly efficient print manufacturing and distribution platform that will strengthen the role of print in an increasingly multichannel media world that is dominated by digital advertising,” said Joel Quadracci, Quad Chairman, President & CEO. “We are fully committed to defending the DOJ’s lawsuit in court. We believe the combination of Quad and LSC is the best outcome for all stakeholders and that the DOJ’s attempt to stop the transaction will unfavorably impact our clients, our employees, and the print industry.” Click Read More below for additional information.
Two years after returning to local ownership, a 31-year-old direct mail and printing company has apparently ceased operations.
Employees of Henrico-based Colortree Group arrived at work Monday to find the doors of the company’s headquarters locked. Some who were gathered in the company’s otherwise empty parking lot at 8000 Villa Park Drive said they received no notice of the move.
“They didn’t tell us anything,” said Voeurn Long, a press assistant who said he had worked at Colortree two years. “I came to work expecting to work, but I didn’t realize they’d just close.”
Raymond Sprouse, a pressman at Colortree just over two years, said an email went out Monday morning with a number for employees to dial to listen in on a call. He said the call conveyed that the company no longer was financially capable of keeping its workers employed.
Sprouse said the company had told employees awhile back that it was having financial difficulties.
“We didn’t know it was this bad,” he said.
Front doors to Colortree’s administrative offices and a restricted area were locked as of 3 p.m. Sprouse said the call was held a few hours earlier.
more detail at source: https://richmondbizsense.com/2019/06/04/local-printer-shuts-doors/