TPO Hess Holdings Inc., a printer of commercial and educational materials, filed for bankruptcy protection from creditors, citing a slump in the industry and the global economic downturn, Bloomberg News reported today. The Kent, Ohio-based company, formerly known as Hess Print Solutions, today listed assets of as much as $50,000 and debt of as much as $100 million in a court filing in Delaware. After a turnaround effort, the company “continued to be adversely affected by overall macroeconomic challenges, industry wide overcapacity and increased pricing pressure” from competitors, according to court papers. The company plans a sale to Bang Printing of Ohio, subject to an auction, for about $19.2 million, court papers show.
