17 June 2011
3S Printers closing doors
RICHMOND, BC—3S Printers, a commercial printer in B.C., has closed its doors, PrintCAN has learned. A representative from the company confirmed the closure, but would not offer any further details.

Documents posted on bankruptcy trustee and insolvency consultants Boale, Wood and Company note that 3S obtained creditor protection in January, but it was suspended last month. The company did not generate sufficient cash flow to meet its obligations and did not raise enough working capital to carry on business.

Total secured debt is approximately $10 million, noted the documents, with CIT Financial the largest creditor at $4 million. 

The website of 3S explains the business started with a team of three in 1991 that grew to more than 45 staff.
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