CJK Group Determines Fate Of Thomson-Shore Site, Staff

摘要

When 100% employee-owned book manufacturer Thomson-Shore, based here, filed for Chapter 11 bankruptcy protection on March 25, it did so intending to sell its assets to Brainerd, Minn.-based CJK Group, as opposed to restructuring or liquidating the company outright. At the time, CJK Group offered debtor-in-possession financing, which allowed Thomson-Shore to continue to operate throughout the bankruptcy process and also to position CJK Group as the preferred bidder for Thomson-Shore's assets. On April 29 - with no other bidders coming forward -the U.S. Bankruptcy Court of the Eastern District of Michigan awarded the assets of the 131,000-sq.-ft. digital and offset soft cover and casebound book printing operation to CJK Group. "This is a challenging time for our industry," CJK Group CEO Chris Kurtzman, said. "The addition of the Thomson-Shore equipment and the experienced employees to run it will help create capacity within our organization."