Cenveo, Inc. Hits Bankruptcy, Announces Agreement with First Lien Noteholders to Recapitalize Balance Sheet

Cenveo, Inc. (NASDAQ: CVO) (the “Company”), a diversified manufacturer of print-related products including envelopes, custom labels, commercial print, and publisher solutions, announced that the U.S. Bankruptcy Court for the Southern District of New York, White Plains has approved the Company's $290 million debtor-in-possession ("DIP") financing to support and grow its business. In addition, the Bankruptcy Court has approved the interim relief requested by the Company in key first day motions related to the payment of pre-filing wages, salaries, and benefits; honoring customer commitments; and paying vendors and suppliers. The motions were filed Friday, February 2, 2018, in conjunction with voluntary petitions for reorganization filed by Cenveo and its domestic subsidiaries under Chapter 11 of the U.S. Bankruptcy Code.

“Friday, Cenveo secured the financing it needs to grow its business and maximize value for all of its stakeholders,” said Robert G. Burton, Sr., Cenveo's Chairman and Chief Executive Officer. “We want to thank all of our employees, vendors, and customers for their continued support, and we look forward to continuing our long-term relationship with each of them. This is the first step by Cenveo to complete its restructuring efforts, which will result in a substantial reduction of its debt and strengthen operations to enhance its relationships with customers.”

Additional information on the restructuring can be found at www.cenveo.com/restructuring or by calling the Company’s toll-free restructuring information line at (844) 219-2678 (or, if you are calling from outside the U.S. or Canada, at +1 (646) 813-2946). Information about the claims process will also be available at https://cases.primeclerk.com/cenveo.

Cenveo’s legal advisors are Kirkland & Ellis. The Company’s financial advisor is Rothschild, Inc., and its restructuring advisor is Zolfo Cooper LLC.