Internal and External Factors Driving Padgett Printing to Cease Operations

Torok said a number of factors led to the decision to end operations at Padgett (ranked 259th on the 2010 Printing Impressions 400 list with sales of $16.9 million). Along with the pain felt by the global recession and a reduction in direct mail volume, he noted that the company never quite recovered from a case of embezzlement six years ago. A December 2010 sales contest also backfired, bringing in unprofitable work, and this past February’s terrible weather led to a severe lack of revenue for that month.