Padgett Printing Is Closing

Torok cited a number of factors that prompted Padgett—which ranked 259th on the 2010 Printing Impressions 400 list with sales of $16.9 million—to shutter its doors. Along with the pain felt by the global recession and a reduction in direct mail, Torok said the company had never quite recovered from an embezzlement six years ago. A December 2010 sales contest also backfired via unprofitable work, and this past February's terrible weather led to a severe lack of revenue for that month.