Debt, Economy Forces Finlay to Close Shop After 135 Years

The Courant reported that Allied Printing in Manchester, CT, had hired a number of former Finlay workers. One Finlay employee told the paper that the company was closing due to financial problems stemming from the 2008 repurchase of the firm from Atlanta-based priNexus.

The owners, Todd and Kevin Kalagher, had taken on substantial debt to repurchase Finlay, but the economy and flagging printing industry made it difficult to repay the debt, the employee told the paper. That prompted the decision to close up shop.