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Joele Frank is handling the Chapter 11 filing of Chicago's LSC Communications, one of the nation's leading magazine and book printers.
The reorganization follows the collapse of last year's merger of LSC with Quad Graphics.
Since the Quad deal fell through, LSC took aggressive steps to cut costs and streamline manufacturing, a move that targeted eight printing plants for shutdown, according to CEO Thomas Quinlan.
Ultimately, he decided reorganization is the best path to creating a more sustainable capital structure for LSC.
He said that while LSC is one the country’s largest and most experienced printers with the leading mailing distribution network "the situation related to COVID-19 continues to evolve and impact our people, our communities, our clients and our vendors."
"LSC's management continues to take the necessary steps to fortify our operations and effectively execute our critical role during this time while making sure the health and safety of our employees remains our top priority," said Quinlan.
Joele Frank, Wilkinson Brimmer Katcher has Meaghan Repko and Michael Freitag working the LSC account.
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