Repeat Business
Truitt continued, "Declining demand is driving excess capacity and margin pressures. Customers are demanding it faster, cheaper and with more service. Change is coming rapidly, but there is time."
Nevertheless, Truitt remains optimistic for 2011—anticipating moderate revenue growth and continued earnings improvement. The company recently made a surprising step to refinance its debt and restructure its balance sheet when WF Capital Holdings, the parent company of Workflow Management, which operates principally through its division WorkflowOne, filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code on Sept. 29. WF Capital also filed a proposed plan of reorganization that provides for full payment to all creditors and the continuation of WorkflowOne's business in the normal course. The ultimate goal of this action is to guarantee WorkflowOne establishes a more competitive foundation in the long-term.
Elise Hacking Carr is senior production editor for Print & Promo Marketing magazine, and managing editor for PRINTING United Journal.