Courier, Express, and Postal Observer: National Envelope Company BankruptcyThe Wall Street Journal reported that the National Envelope Company, the largest envelope manufacturer in the United States filed for bankruptcy today. The bankruptcy filing indicated that the company had between $100 and $500 million in both assets and liabilities. The company is family owned.
National Envelope Company is unlikely to cease operations under bankruptcy. The bankruptcy proceeding will allow it to renegotiate existing contracts with employees and vendors, renegotiate terms of loans, and renegotiate or terminate real estate leases that could not be completed outside of bankruptcy.
June 10, 2010
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