Taylor Corp. to Shutter Executive Greetings’s Connecticut HQ

Taylor Corp., the North Mankato, MN-based catalog holding company that won a bankruptcy court auction to acquire multititle business stationery cataloger Executive Greetings last month for $68 million, plans to close down Executive Greetings’s New Hartford, CT-based operations and consolidate with its own operations. Once the plant is closed at the end of this year, about 325 employees will be laid off.

The New Hartford plant employs marketing executives, printers, copywriters, and customer service reps. According to The Hartford Courant, Taylor, which employs some 15,000 people worldwide, has about 400 openings in its various facilities and is encouraging New Hartford workers to apply for the jobs. Only problem is that the nearest Taylor plant to the ill-fated New Hartford facility is more than 100 miles away in Amsterdam, NY.

Taylor vice president of new business development Larry Lorenzen could not be reached for comment. The Courant says that Executive Greetings’s brands, which include Drawing Board, GoPromos, U.S. Diary, and HRDirect, will continue as independent catalogs, but will be consolidated into existing facilities. According to court documents, the $86 million Executive Greetings is profitable and achieved $12 million earnings before interest, taxes, depreciation, and amortization (EBITDA) last year.

The sale of Executive Greetings to Taylor Corp. is scheduled to close April 30.

Partner Content

Hincapie Sportswear Finds Omnichannel Success in the Cloud - Netsuite
For more and more companies, a cloud-based unified data solution is the way to make this happen. Custom cycling apparel maker Hincapie Sportswear has leveraged this capability to gain greater visibility into revenue streams, turning opportunities into sales more quickly while gaining overall operating efficiency. Download this ecommerce special report from Multichannel Merchant to more.
The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.