National Envelope, the largest private U.S. envelope maker, sought bankruptcy protection for the second time in three years yesterday as cost cuts failed to keep pace with the decline in mail usage, Reuters reported yesterday. The Frisco, Texas, company blamed its struggles in part on its supply agreement with International Paper Co, which prevented it from reducing costs as sharply as its competitors. The company said it makes 37 billion envelopes a year and employs 1,600. NE Opco Inc., which does business as National Envelope, said in court documents it had retained PricewaterhouseCoopers to help it find a buyer of its assets. So far, 18 potential buyers had signed non-disclosure agreements and it expects a "spirited" bidding process.
