MAIN NEWS HEADLINES
April 13-20, 2006 Edition
Graphic Arts Center
Files for Bankruptcy,
Refinancing Efforts Fail
PORTLAND, OR/4/10/06Graphic Arts Center Publishing, a large Northwest publisher based in Portland, filed for Chapter 11 bankruptcy April 7, after several failed attempts to refinance the company.
The company specializes in books, calendars, and other products in the subject areas of regional, gardening, photo essay, nature, travel, cooking, and childrens books. It has been struggling with cash flow problems since business slowed down after the 9/11 attack on America.
Graphic Arts. Whose largest creditor is Silicon Valley Bank, said it will publish its full list this year and hopes to complete a reorganization plan within six months. The company also wants to continue to operate its distribution service, which includes Whitecap Books, Epicenter Press, Wolf Creek Books, The CIRI Foundation, Roundup Press, W.W. West Inc., Alaska Native Heritage Foundation, and Stoecklein Publishing.
The company publishes about 40 books a year under its three imprints, Graphic Arts Books, WestWinds Press, and Alaska Northwest Books. It has a backlist of about 500 titles.
Graphic Arts Books specializes in large-format photo-essay books. Alaska Northwest, established in 1959, was acquired by Graphic Arts in 1992 and publishes books about Alaska. WestWinds Press, launched in 1998, offers titles about the western United States, and specializes in history, natural history, biography, adventure, travel, cooking and childrens titles.