I’m sad to announce that after nearly 40 years of operating, we’ve come to face a very difficult decision to transition and close the business effective May 31. It is our intention to complete all currently booked orders in hand until the end of the month.
The last two years has been extremely challenging for us, with business running at 40% below pre-Covid levels. At the start of Covid, our 2nd largest client ceased publishing. Then, in January of this year, our largest customer closed their doors, leaving us with significant unpaid accounts. Further, due to the current global paper shortage that is forecast to continue into 2023, we have been put on a paper supply allocation that is well below the 2021 levels,
meaning we have no ability to grow the business. Material costs have increased 20% to 30% putting huge pressure on profit margins. Labour shortages have meant we have not been able to replace key employees who have left the company, forcing us to reduce shifts and trim schedules while trying to align things with our current sales levels.
Six months ago, as the economy started to recover, we truly believed we could build the business back to levels where we could make a profit, while maintaining our reputation as a quality print supplier. Now with these recent challenges facing us, there is little indication that we will be able to achieve either of these goals. I want to thank our loyal customers, suppliers and employees who have supported McLaren Press over the years.
McLaren Press Graphics Limited
Box 1018, Bracebridge, On P1L 1V2
(800) 465-1662 ext 226
(705) 687-6691 ext 226