What in the World is Schutzschirmverfahren? – March 2026 M&A Activity

Schutzschirmverfahren (shu̇ts-ˌshir-m fər-ˈfä-rən): a German word literally translated as “Protective Shield Proceedings,” but in practical terms, it is the German equivalent of a self-administered, court-supervised proceeding under Chapter 11 of the US Bankruptcy Code.

Exit, Consolidate, or Invest

Despite the recent spate of numerous plant closures and total plant auctions, we do not see evidence of widespread company failures in the printing industry. Rather, recent transactional activity suggests something more structural at work. The industry is not collapsing; it continues to be sorted as the demand for printed products changes.

Three distinct pathways are emerging: excess capacity is being wrung out of the system, often outside formal restructuring processes; core mature print markets are continuously consolidating through many, sometimes small, local transactions; and capital continues to flow toward the growth segments, in particular packaging and digital print technologies, albeit at a much slower pace than in previous years. Together, these dynamics are reshaping the printing and packaging industry from the inside out.

Wrung Out - Manroland Sheetfed Files Bankruptcy

At one time, one of the most highly respected manufacturers of printing equipment, Manroland Sheetfed, entered into insolvency proceedings in Germany under that country’s Insolvency Code, which provides the option for management to retain control of the company while restructuring, rather than being replaced by a court-appointed administrator.

The Manroland press line traces its origin back to 1844 in Augsburg, Germany, and has been associated with many innovations throughout its long history. The company initially focused on producing steam engines, but within a couple of decades had expanded into manufacturing printing presses. In 1875, the company introduced the Albatross Press, which produced up to 700 sheets per hour, a very productive rate for a sheetfed press (“Albatross” clearly had a different, more positive connotation at the time). The company came into its own in 1911 with the introduction of its first sheetfed offset press. Another milestone was achieved in 1951 when the company introduced the 4-color sheetfed Ultra press at Drupa, revolutionary at the time for its “planetary cylinder” design, which enabled full-color printing in one pass through the press.

The company progressed over the following decades with a convoluted series of mergers. The 1979 merger with the MAN Group brought web press production into the company. To gain entry into the US market, the company marketed its presses under the brand name Miele-Roland, piggybacking on the reputation of Miele presses.

Manroland, with both sheetfed and web press manufacturing under its belt, churned through several ownership structures: corporate enterprise, foreign, and private equity. Following its first insolvency filing in 2012, the company emerged from that restructuring as two separate entities, Manroland Sheetfed, embracing sheetfed technology, under the umbrella of UK-based Langley Holdings. The legacy web press business was purchased by Possehl Group, a German industrial conglomerate, eventually merging it with Goss International to form Manroland Goss. (See The Target Report: Press Onward! - March 2018).

We may be seeing the end of the sheetfed branch of the Manroland family of printing presses. The CEO of Langley Holdings was quoted in the company’s review as saying, “The situation at Manroland Sheetfed is unsustainable.” The company’s restructuring expert noted that they “will have to implement drastic and far-reaching measures” and that it “is regrettable that a great many jobs will be lost.” Over the past couple of decades, much of the packaging market has shifted to Koenig & Bauer (KBA) for its very-large-format offset presses. Komori has made significant inroads into the commercial market for high-speed automated offset presses. Heidelberg has held its ground in both the commercial and packaging markets. Given these market trends, we will not be surprised if Manroland Sheetfed exits the manufacture of printing presses and is consigned to simply servicing its legacy of installed machines.

Consolidation as the Default Path

The most visible activity in March was the steady cadence of small and mid-sized acquisitions across commercial printing. These were not transformative platform deals or private equity-backed roll-ups. Instead, they were overwhelmingly local, strategic tuck-ins, transactions driven by geography, customer overlap, and operational efficiency.

BP Print Group’s acquisition of PrintFast Marketing Solutions in New Jersey, Andrick & Associates’ tuck-in of Target Graphics in Florida, and PackEdge’s purchase of Keno Graphics in Connecticut, all follow a similar pattern: buyers and sellers operating in the same regional markets, combining to improve utilization and retain customer relationships. At the lower end of the market, consolidation via tuck-in transactions provides owners with a graceful exit path as the commercial printing industry volume slowly declines.

Franchise and network operators continue to play an important role in this consolidation dynamic. The Minuteman Press in Kalamazoo, Michigan, acquired local company JB Printing. In Iowa, the North Liberty franchise purchased Goodfellow Printing. The Allegra Marketing Print Mail franchise in Baltimore expanded its footprint by acquiring the Image360 franchise location in downtown Baltimore. These transactions demonstrate how franchise organizations now act as aggregation vehicles for many smaller, independent printers. The franchisors’ model: local ownership combined with broader branding and operational support, positions the franchise systems to absorb sub-scale competitors and attract entrepreneurial entrants into the printing industry.

Notably absent from the month’s activity were large-scale commercial print platform acquisitions. There were no multi-state roll-ups and no significant private equity entries into traditional print. The lack of headline transactions suggests that growth expectations are not driving consolidation, but rather that consolidation is occurring by necessity. For many operators, acquisition is less about expansion and more about survival: adding volume, improving equipment utilization, and maintaining relevance in increasingly competitive local markets while at the same time removing a competitor from the playing field. In the current market, consolidation is happening at the edges, not on a large scale, at least not yet.

Investment Flows Toward Packaging and Technology

In contrast to the fragmented and largely local nature of commercial print M&A, capital deployment in packaging and enabling technologies continues to occur at scale and with strategic intent. Altamont Capital Partners’ investment in Key Container Corporation reflects ongoing private equity interest in corrugated packaging, despite reports that demand for corrugated boxes has declined following a systemic reset after the post-Covid period, as well as online retailers shifting to paper bags and envelopes as more cost-effective carriers.

Similarly, CCL Industries’ $113 million (USD) acquisition of Sleever International underscores the strategic, long-term value of packaging companies, in this case, shrink-sleeve production. Consistent with the deal discipline that CCL has shown in the past, the multiple paid was 6.4x adjusted EBITDA. (See The Target Report: CCL Industries Breaks the Rules – January 2022). This multiple is not only a sign of CCL’s approach but moreover is indicative of the cooling off of the red-hot market for packaging companies, even allowing that shrink sleeves were not as hot as labels and flexible packaging. Even more striking among the deal metrics revealed was that net tangible assets are expected to represent 90% of the purchase price, leaving just 10% to be allocated to goodwill.

An Industry Being Sorted

Taken together, the March data does not portray an industry in crisis, nor is it indicative of a booming business for print and packaging companies. It describes an industry being sorted. Three pathways are becoming increasingly distinct. As is the case with many of the closures noted in our deal log, and as may be the case with Manroland Sheetfed, when the headwinds are too strong, some fold up their tent and close up shop. Consolidation is reshaping core print markets as local operators combine to remain viable, with the survivors absorbing work from exiting companies. And finally, investment is still flowing into packaging, labels, and digital print technologies, the industry segments aligned with growth, and attracting capital.

   

	2026 March - Mergers and Acquisitions in the Printing, Packaging, Paper & Related Industries
	Deal Party #1 (Surviving Entity)	Pre-Deal Revenue (US$Mil)	Party #1 Address	Deal Party #2	Pre-Deal Revenue (US$Mil)	Party #2 Address	Date Deal Public	Deal Value (US$Mil)	Deal Structure (Intermediary)	Notes	Press Links
	BP Print Group	No Data	Lakewood, NJ	PrintFast Marketing Solutions	No Data	Middlesex, NJ	3/31/26	No Data	Acquisition (Graphic Arts Advisors)	Commercial print & marketing	Link
	Paxton Media Group	No Data	Paducah, KY	The Franklin Press (+8 titles) (Prop. Community Newspapers)	No Data	Athens, GA	3/31/26	No Data	Acquisition (Dirks, Van Essen)	Community newspapers	Link
	Allegra Marketing Print Mail	No Data	Baltimore, MD	Image360 Baltimore Downtown	No Data	Baltimore, MD	3/31/26	No Data	Acquisition	Wide-format & signage	Link
	Andrick & Associates	No Data	Sarasota, FL	Target Graphics	No Data	Sarasota, FL	3/30/26	No Data	Acquisition	Commercial printing	Link
	PackEdge	No Data	Hamden, CT	Keno Graphics	No Data	Shelton, CT	3/26/26	No Data	Acquisition	Commercial printing	Link
	Minuteman Press Kalamazoo	No Data	Kalamazoo, MI	JB Printing	No Data	Kalamazoo, MI	3/25/26	No Data	Acquisition	Printing & copying	Link
	Graphco Mngt Team	No Data	Cleveland, OH	Graphco	No Data	Cleveland, OH	3/24/26	No Data	Acquisition	Equipment distributor	Link
	Michigan Independent Media Group	No Data	Grand Rapids, MI	Tri-City Times	No Data	Imlay, MI	3/23/26	No Data	Acquisition	Community newspaper	Link
	Continuum (Div. CJK Group)	No Data	Brainerd, MN	Teldon	No Data	Richmond, BC	3/23/26	No Data	Acquisition	Specialty printed products	Link
	CCL Industries	$7,660	Toronto, ON	Sleever International	$158.7	Paris, France	3/13/26	$112.5	Acquisition	Shrink sleeve labels	Link
	Brand Boost Prints	No Data	Spokane Valley, WA	Lithograph Reproductions	No Data	Spokane Valley, WA	3/12/26	No Data	Acquisition	Commercial printing	Link
	Global Printing and Packaging	No Data	Marlborough, MA	Rocketbook	No Data	Lee, MA	3/10/26	No Data	Acquisition	Notebooks	Link
	AlphaGraphics North Liberty	No Data	North Liberty, IA	Goodfellow Printing	No Data	Iowa City, IA	3/9/26	No Data	Acquisition	Printing & copying	Link
	Altamont Capital Partners	No Data	Palo Alto, CA	Key Container	No Data	Pawtucket, RI	3/9/26	No Data	Acquisition	Corrugated boxes & displays	Link
	Pillsman Partners & Peninsula Partners	No Data	Greenwich, CT Detroit, MI	Printware	No Data	Eagan, MN	3/3/26	No Data	Acquisition	Inkjet presses	Link

   

	2026 March - Bankruptcy Filings in the Printing, Packaging, Paper & Related Industries
	Filing Party	Date Case Filed	Pre-Petition Revenue (US$Mil)	Case #	Filing Party Address	Circuit	Region & City	Judge	Attorney for Debtor	Notes
	Chapter 11 Filings:
	More Than A Printer Inc.	3/13/26	No Data	26-30664	Louisville, KY		Western KY Louisville	Joan A. Lloyd	Michael W. McClain	Commercial printing
	Chapter 7 Filings:
	No Chapter 7 Filings Found this Month	---	---	---	---	---	---	---	---	---
	Germany Insolvency Proceeding:
	Manroland - Sheetfed Division (Sub. Langley Holdings)	3/3/26	$300.0	N/A	Offenbach am Main, Germany	N/A	N/A	N/A	N/A	Printing press manufacturing

   

	2026 March - Non-Bankruptcy Closures in the Printing, Packaging, Paper & Related Industries
	Closed Company / Facility	Date of Closure	Pre-Closure Revenue (US$Mil)	Closing Address	Related Party	Related Party Address	Date Closure Public	Notes	Press Links
	Ace Lithographers of Morris County (dba Ace Twill)	4/30/26	No Data	Berkeley Heights, NJ	None	N/A	Mar-26	Commercial printing (Merger with Associates International)	Link
	BR Printers - Book printing plant	6/26/26	No Data	Cincinnati, OH	BR Printers	San Jose, CA	3/27/26	Book printing & manufacturing	Link
	King Printing	3/15/26	No Data	New Tazewell, TN	None	N/A	3/27/26	Commercial printing	Link
	QC Direct Mail	2/28/26	No Data	Marietta, GA	None	N/A	3/9/26	Mailing services & digital printing	Email Notice
	Lifetouch - Printing facility (Div. Shutterfly)	10/30/26	No Data	Galion, OH	Lifetouch	Redwood City, CA	3/5/26	Photobooks and specialty products.	Link
	Star Litho	4/30/26	No Data	Weymouth, MA	None	N/A	3/5/26	Commercial printing	Link

Private Equity Bets Big on Digital Billboards – February 2026 M&A Activity

From Poster Panels to Electronic Displays

For more than a century, the billboard business depended on printing. From hand-painted advertising murals to multi-sheet poster panels to vinyl prints, outdoor advertising and commercial printing evolved together. Today, that relationship is beginning to unravel.

When Clear Channel Outdoor agreed in February to be acquired by Abu Dhabi-based Mubadala Capital and Chicago-based TWG Global in a $6.2 billion take-private transaction, the deal was widely framed as another step in the digital transformation of the out-of-home advertising business. The investor group highlighted Clear Channel’s network of roadside displays and airport signage as a platform for expanding electronic billboard infrastructure and data-driven advertising systems.

The combined funds’ interest in outdoor advertising is driven largely by the economics of electronic billboards. Once installed, a digital display can rotate multiple advertisements in rapid succession, dramatically increasing revenue per location while eliminating many of the logistical costs associated with traditional printed media. For operators such as Clear Channel, Lamar Advertising, and Outfront Media, converting static structures into LED billboards has become one of the industry’s primary growth strategies.

That transformation has been underway for two decades with the widespread introduction of LED displays. For the segment of the printing industry that supports outdoor advertisers, the implications are clear; every conversion of a billboard to digital technology replaces the many printed signs that would have been required over the coming years.

The Sign Painters

To understand the significance of this shift, it is worth recalling that billboard advertising itself has undergone several technological revolutions over the past century and a half.

In the early days of outdoor advertising, billboard graphics were not printed at all. Instead, they were hand-painted signs created by skilled artists who reproduced advertising imagery onto large wooden panels or painted directly onto the side of buildings. Sign painters often worked from small-scale illustrations, carefully enlarging the artwork across the billboard surface using grids or projection techniques.

Companies such as Foster & Kleiser, one of the pioneering billboard operators in the United States, helped popularize these early roadside displays, relying on teams of painters who traveled from city to city producing large advertising murals by hand. The company was the proving ground for several well-known muralists, artists, and illustrators. Most famously, the company’s artists hand-painted the iconic billboards on Los Angeles’ Sunset Strip, promoting rock-and-roll acts. (The company went through a series of name changes, sales, and acquisitions, and eventually disappeared into what is now Clear Channel Outdoor, the same aforementioned Clear Channel company.)

The 1889 Paris Exposition

In 1889, the French government sponsored the Exposition Universelle de 1889 in Paris to commemorate the centennial of the French Revolution. The fair showcased numerous technological innovations of the industrial age and introduced what would become the world’s tallest structure for more than four decades: Gustave Eiffel’s iron tower.

Poster Promoting Train to Paris Fair

Less well known, but possibly more impactful on today’s visual landscape, was the display of a large multi-sheet advertising poster at the fair by the Morgan Lithographic Company of Cleveland, Ohio. The billboard, originally composed of 24 separate printed paper sheets, formed a coherent large image when aligned and pasted together. The company, well known at the time for its colorful printed posters for the Ringling Brothers Circus, won the gold medal for its vibrant, saturated chromolithographic posters. These were produced by stone lithography, layering up to a dozen or more colors. The size of the stones limited the size of the sheet that could be printed, which led directly to the multi-sheet format for billboards.

No less important than the limitations of using stones in the printing process, the ease of transporting and installing manageable-sized sheets quickly led to the widespread use of multiple sheets to create large outdoor advertising. Eventually, the stone litho process gave way to large-format offset presses capable of producing sheets of the required size. Billboard poster sets were printed, trimmed with overlapping bleed, collated with numbered sequences, and packed for distribution. Installers, traditionally called “bill posters,” would climb ladders and scaffolds, glue and smooth the sheets to form a single billboard-size image.

Billboard Printing Becomes an Industrial Process

The introduction of mechanized large-format offset printing presses dramatically changed the process. By the early twentieth century, improvements in lithographic printing allowed billboard posters to be mass-produced on paper and assembled onto billboards in sections. This innovation enabled advertisers to distribute identical campaigns across multiple cities simultaneously, greatly expanding the reach of outdoor advertising.

Over time, the industry standardized the formats used for billboard posters. Smaller roadside displays typically used 8-sheet posters, while larger urban billboards relied on a 30-sheet format, printed in sections and assembled on site. These standardized formats allowed billboard operators to efficiently print and distribute advertising campaigns.

For most of the twentieth century, billboard advertising depended on these large-format printed posters produced in specialized printing plants and shipped nationwide for installation along highways and urban corridors. The production of these posters required some of the largest offset presses ever installed in commercial printing facilities, with sheet sizes up to 81 inches. A small group of printers developed the capability to manufacture these oversized graphics efficiently and became essential suppliers to the outdoor advertising industry.

Few companies embodied that business model better than Kubin-Nicholson of Milwaukee, whose oversized offset presses produced billboard panels that were shipped nationwide and pasted onto roadside structures. The company specialized in large-format graphics, including billboard sheet sets, transit advertising displays, and retail signage, and for decades served as a key supplier to the outdoor advertising industry. Its slogan, “Printers of the Humongous,” captured the essence of a company built around the oversized offset presses required to produce billboard posters and other large-format graphics.

For much of the twentieth century, this system worked remarkably well. The combination of large-scale printing and widespread billboard networks created a powerful national advertising medium. Printers such as Kubin-Nicholson played a crucial role in supporting that advertising system.

Wide-Format Printing Enters the Picture

The poster system that sustained billboard printing for most of the twentieth century began to erode long before the arrival of digital billboards. In practice, the decline of billboard poster printing had already begun decades earlier. Beginning in the late 1980s and accelerating through the 1990s, outdoor advertising companies increasingly replaced multi-sheet paper posters with large, printed vinyl “skins” stretched across billboard frames. Produced using screen printing and later wide-format inkjet printers, these skins eliminated the traditional thirty-sheet poster arrays that had long been printed on oversized offset presses. Installation became faster, the graphics were more durable, and the seams that once defined panelized posters disappeared.

For specialized printers that had built their businesses around billboard posters, the shift to vinyl skins marked the beginning of a steady decline in demand for large-format offset printing. Companies that specialized in offset sheets began investing in wide-format printing machines, including Kubin-Nicholson. However, as wide-format technology was deployed throughout the printing industry and many new entrants specialized in wide-format printing, supplying billboard graphics was no longer the tightly defined niche it once was. The capabilities and expensive capital equipment required to print, cut, and properly distribute printed paper sheet sets were no longer needed.

Kubin-Nicholson Shuts Down

Earlier this year, a chapter in the billboard story came to an end. Kubin-Nicholson ceased operations, and the company’s printing presses and finishing equipment were sold at auction. Among the equipment offered were oversized sheetfed offset presses and wide-format inkjet printing systems used to print billboard campaigns. The closure of Kubin-Nicholson represents more than the disappearance of a single printing company. It marks another step in the dismantling of the unique segment of the printing industry that once supported billboard poster production in North America.

When the Poster Is No Longer Needed

The technologies that once drove and enabled demand for billboard printing are giving way to a new system in which billboards are no longer printed at all. The transition will not happen overnight. Thousands of traditional billboards remain in operation across the United States, and printed posters will continue to be used in many markets for years to come. Poster panels still number in the tens of thousands across the United States, but those that remain use wide-format printed graphics rather than the traditional thirty-sheet paper posters once produced on large offset presses. The direction of the industry leaders is increasingly clear. As digital displays expand, the demand for printed billboard graphics of any type will continue to decline.

For the dedicated printing plants that once produced the massive poster arrays for the billboard industry, the transition from paper posters to vinyl skins and now to digital displays marks the quiet end of a manufacturing niche that once covered America’s highways with printed images.

Market Footnote

We have positioned the closure of Kubin-Nicholson in this Target Report within the context of the long-term changes in the large-sheet-size offset market due to the emergence and mass deployment of wide-format inkjet printers, and then further exacerbated by the increasing number of installed digital displays. These are among the underlying industry trends that likely contributed to this company’s decline and eventual closure. However, the final chapter of Kubin-Nicholson is more complicated. Before its closure, the company had been acquired by Marketing.com, the printing roll-up that has recently been unwinding through bankruptcy filings and a series of plant closures and equipment auctions. (See The Target Report: New Consolidator Emerges – November 2025). Recent auctions and closures in the Marketing.com family of companies, in addition to Kubin-Nicholson in Wisconsin (auction date 02-24-26), include a series of major equipment liquidations such as Knepper Press in Pennsylvania (04-16-26), Stratis Visuals in Connecticut (04-07-26), Color Art in Missouri (03-19-26), Las Vegas Color Graphics in Nevada (03-17-26), Action Printing in Wisconsin (02-26-26), Mossberg & Company in Indiana (02-19-26), HBP in Maryland (02-17-26), Brant InStore Printing in Ontario (06-25-25) and Fisher Group in Iowa (03-12-25).

   

	2026 February - Mergers and Acquisitions in the Printing, Packaging, Paper & Related Industries
	Deal Party #1 (Surviving Entity)	Pre-Deal Revenue (US$Mil)	Party #1 Address	Deal Party #2	Pre-Deal Revenue (US$Mil)	Party #2 Address	Date Deal Public	Deal Value (US$Mil)	Deal Structure (Intermediary)	Notes	Press Links
	Wortman Printing	No Data	Effingham, IL	Rose Printing & Copies	No Data	Centralia, IL	2/20/26	No Data	Acquisition	Printing & copying	Link
	Shamrock Companies	No Data	Westlake, OH	ProServ Business Products	No Data	Tulsa, OK	2/20/26	No Data	Acquisition (Corp Dev Assoc)	Print & promo distributor	Link
	SupremeX	$195.3	Lasalle, QC	Elite Envelope & Graphics	No Data	Randolph, MA	2/19/26	No Data	Acquisition (Highland Advisory)	Envelope manufacturer	Link
	Times Media Group	No Data	Tempe, AZ	Moser Community Media (32 titles)	No Data	Brenham, TX	2/18/26	No Data	Acquisition (Dirks, Van Essen)	Community newspapers	Link
	Allegra Marketing Print Mail (New franchisee)	No Data	Jackson, TN	Allegra Marketing Print Mail	No Data	Jackson, TN	2/18/26	No Data	Acquisition	Printing & copying	Link
	Inovar Packaging Group (Port co. Kelso & Company)	No Data	Dallas, TX	Kiliper Corporation	No Data	Ames, IA	2/13/26	No Data	Acquisition	Stretch sleeves, labels & films	Link
	Viella Brand Communications	No Data	Spokane, WA	Spokane Valley Screen Printing	No Data	Spokane Valley, WA	2/12/26	No Data	Acquisition	Screen printing	Link
	NovaVision (Port co. Incline Equity Partners)	No Data	Bowling Green, OH	Graphic Communications	No Data	Warminster, PA	2/12/26	No Data	Acquisition	Label printing	Link
	Gazette News Group	No Data	Schenectady, NY	Adirondack Daily Enterprise (Prop. Ogden Newspapers)	No Data	Saranac Lake, NY	2/11/26	No Data	Acquisition	Community newspapers	Link
	Proforma	$662.0	Independence, OH	Safeguard Business Systems (Div. Deluxe)	$180.0	Carrollton, TX	2/11/26	$25.0	Acquisition	Print distributor system	Link
	Duggal Visual Solutions	$143.0	New York, NY	CSI Printing & Graphics	No Data	Alexandria, VA	2/11/26	No Data	Acquisition	Wide-format printing	Link
	Kingswood Capital Management	No Data	Los Angeles, CA	Paragon Print & Packaging (Business paper div. of Coveris)	$315.0	Boston, UK	2/10/26	No Data	Carve-Out	Label, cartons & trays	Link
	Direct Marketing Solutions (Port co. Main Street Capital)	No Data	Portland, OR	Johnson & Quin	$32.6	Niles, IL	2/10/26	No Data	Acquisition	Direct mail printing	Link
	Mubadala Capital & TWG Global	No Data	Abu Dhabi Chicago, IL	Clear Channel Outdoor Holdings	$1,600	San Antonio, TX	2/9/26	$6,200	Acquisition	Outdoor advertising	Link
	LM Packaging	No Data	St-François, QC	Cascades Enviropac (Div. Cascades)	No Data	Berthierville, QC	2/6/26	No Data	Asset Acquisition	Honeycomb packaging	Link
	Brother Industries	$5,600	Nagoya, Japan	Mutoh Holdings	$113.0	Setagaya, Japan	2/4/26	$233.0	Acquisition	Wide-format printers	Link
	Millcraft Paper	No Data	Cleveland, OH	Steen-Macek Paper	No Data	Green Bay, WI	2/3/26	No Data	Acquisition	Paper distribution	Link

 

	2026 February - Bankruptcy Filings in the Printing, Packaging, Paper & Related Industries
	Filing Party	Date Case Filed	Pre-Petition Revenue (US$Mil)	Case #	Filing Party Address	Circuit	Region & City	Judge	Attorney for Debtor	Notes
	Chapter 11 Filings:
	P&Y T-Shirts & Silk Screening Co Inc (dba American Printworks)	2/22/26	No Data	26-11613	Vernon, CA	9th	Central CA	Deborah J. Saltzman	Stella A. Havkin	Screen printing apparel
	Lithotype Co. Inc.	2/6/26	No Data	26-02207	Bolingbrook, IL	7th	Northern IL Chicago	Daniel R. Fine	Scott R. Clar	Flexible packaging
	Golden Image Graphics Inc.	2/1/26	No Data	26-70454	Bellport, NY	2nd	Eastern NY Central Islip	Sheryl P. Giugliano	Richard S Feinsilver	Commercial printing
	Chapter 7 Filings:
	No Chapter 7 Filings Found this Month	---	---	---	---	---	---	---	---	---

	2026 February - Non-Bankruptcy Closures in the Printing, Packaging, Paper & Related Industries
	Closed Company / Facility	Date of Closure	Pre-Closure Revenue (US$Mil)	Closing Address	Related Party	Related Party Address	Date Closure Public	Notes	Press Links
	Acuity Finishing	3/25/26	No Data	Cranberry, NJ	None	N/A	Feb-26	Bindery services	Link
	Kubin-Nicholson	Feb-26	No Data	Milwaukee, WI	Marketing.com	Eureka, MO	Feb-26	Large format offset & wide-format printing	Link