WorkflowOne Initiates Voluntary Chapter 11 Proceeding
WF Capital’s proposed financial restructuring represents a milestone in WorkflowOne’s transformation, which began in 2008 and initially focused on improving the quality of its operations. During the Chapter 11 process, WorkflowOne intends to continue improving and transforming the
Company.
Dave Davis, chief executive officer of Workflow Management, Inc. said, “Today’s actions are an important step forward in the ongoing transformation of our company. We are using this legal process for the narrow purpose of restructuring our balance sheet, and it should be virtually seamless to
customers, suppliers and employees. WorkflowOne is open for business and serving customers as usual. The Company has accomplished a lot during the past year and a half by realigning the organization to deliver better value to customers, improving the quality of operations and working
capital management, increasing supply chain efficiency, and enhancing customer service. The finalization and implementation of the debt restructuring plan will provide the financial flexibility to operate more efficiently and position WorkflowOne to compete more effectively in the changing
market environment.”