Business Services Industry
VIP Global Capital Inc. announces Chapter 11 filing for subsidiary
Business Wire, Feb 28, 1996
DENVER--(BUSINESS WIRE)--Feb. 28, 1996--VIP Global Capital Inc. (NASDAQ:VIPG) announced that one of its subsidiaries, PrintCrafters Inc. ("PrintCrafters"), filed today for protection under Chapter 11 of the United States Bankruptcy Code.
The Chapter 11 filing relates only to PrintCrafters and its two operating divisions, Renaissance Publishing Inc. and Media Communications Inc., and does not affect the company or any of its other operating subsidiaries and divisions.
Tim Vasko, the company's chief executive officer, stated that the purpose of the Chapter 11 filing for PrintCrafters was to finalize debt restructuring which began with the company's acquisition of PrintCrafters in June 1993.
Related Results
The company is hopeful that PrintCrafters' Chapter 11 filing will allow it to resolve its remaining debt issues and continue as an operating subsidiary of the company.
CONTACT: VIP Global Capital Inc., Denver
Michael J. Schuchard, 303/371-8400
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