The company has been trading under Chapter 11 in the US and the Canadian equivalent since January last year following its collapse under a mountain of debt.

In the meantime it has sold off its European division and reorganised its US operations.

There had been speculation that the company would be effectively dissolved by being broken up and sold off. However, the deal should enable the printer to emerge as a single trading unit.

The company is not at this stage disclosing details of the agreement or the form that it will take following its emergence from creditor protection but said that it is “highly unlikely” that its shares, which had previously traded in the US and Canada, would have “any value” following the reorganisation plan.

Read the original article at www.printweek.com.

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