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VOL. 124 | NO. 72 | Tuesday, April 14, 2009

Quebecor to Slash Up to 111 Jobs

By Andy Meek

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Canada-based Quebecor World Inc. has notified state officials that the commercial printing company is closing its Memphis facility and as many as 111 workers will lose their jobs. The facility is at 828 E. Holmes Road.

Company executives told officials at the Tennessee Department of Labor and Workforce Development about the closure and imminent job losses April 7. Tony Ross, vice president of corporate communications for Quebecor World, did not return several calls by press time.

Quebecor’s East Holmes Road plant, which sits on about 10 acres, was appraised at a little more than $9.5 million in 2008, according to real estate information company Chandler Reports, www.chandlerreports.com. The Canada printing company’s board of directors last year authorized a Chapter 11 bankruptcy petition in New York as well as a filing for creditor protection in Canada.

Quebecor this month announced it has reached an agreement in principle that would allow the company to emerge from bankruptcy protection soon. The company has 67 facilities in the U.S. in 26 states, according to its 2008 annual report.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 80 335 6,440
MORTGAGES 99 359 7,661
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 198 787 14,096
BANKRUPTCIES 55 235 4,809
BUSINESS LICENSES 29 124 2,464
UTILITY CONNECTIONS 37 222 5,118
MARRIAGE LICENSES 16 82 1,542

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