Further on Nova Blue Reprographics Chapter 11 Bankruptcy

This post is a brief follow-up to previous posts on this blog about Nova Blue Reprographics’ Chapter 11 Bankruptcy case.

First, I want to mention that I would not be surprised, one bit, if one of the larger DC-area reprographics companies makes an offer to purchase the assets (and goodwill and customer list) of Nova Blue Reprographics and, subsequently, completes that offer, which would require the consent of the Trustee of this case as well as approval from the Bankruptcy court. Given the competitive landscape in the reprographics industry in the Washington, DC Metro area, I would think that ABC Imaging would take a look at acquiring Nova Blue Repro, and I think that would apply to ARC as well. And, maybe NRI would have an interest in looking at Nova Blue Repro. My own personal opinion is that, if Nova Blue Repro is acquired, the most likely acquirer would be ABC Imaging.

Second, okay, here’s a very brief update, based on filings I briefly looked at this morning:

(Note: Documents for this case can be found at www.pacer.gov, but please note that you have to register with “pacer” (and get an account) before you can access any documents.)

Locations:

According to a report filed by the Chapter 11 Trustee on October 4^th, 2011, Nova Blue Reprographics has closed its locations in Fredericksburg and Winchester , VA and plans to relocate three northern Virginia locations to new facilities in Gainesville, Herndon and Chantilly, VA (i.e., these three locations to replace existing locations that need to be vacated.)

“Income” (gross income, cash basis, NOT net income) reported for:

June 2011 - - - $122,028.

July 2011 - - - $ 105,567.

August 2011 - - - $ 139,017

Reports:

I’ve posted into my Google Docs library copies of Nova Blue Repro’s most recent “monthly” operating reports – these are reports filed with the BK court to let the court know how things are going with the business.

For the June 2011 Operating Report – click on this link:

http://tinyurl.com/3qku4qa

For the July 2011 Operating Report – click on this link:

http://tinyurl.com/4yd3h6b

For the August 2011 Operating Report – click on this link:

http://tinyurl.com/3gtd7lu

Nova Blue Reprographics filed Chapter 11 Bankruptcy on January 14, 2011

I've previously reported on this blog about the Chapter 11 Bankruptcies of Florida Reprographics (Tampa, FL) and United Reprographics (Seattle, WA).

Somewhat belated news, but I’m just now finding out about this; Nova Blue Reprographics, one of my former competitors in the Washington, DC market area, filed Chapter 11, back on January 14, 2011.

This particular bankruptcy case is still on-going, and, based on the documents I reviewed this morning, this bankruptcy case will probably go on for quite some time.

Nova Blue Reprographics was established by Richard Bartlett, back around 1965, so it is, most definitely, one of the “older” reprographics companies operating in the DC market area. Actually, Nova Blue’s primary reprographics operations are located in Northern Virginia suburban locations. To the best of my recollection, Nova Blue never established any operations in Washington, DC or in the Maryland suburbs. Evidently, Bartlett owns other reprographics operations in central Florida (Kissimmee, FL called “Ocean Blue”, is one of those. I don’t know if his other Florida locations are still operating.)

Nova Blue was never considered to be a major player in the reprographics picture in the Washington-Baltimore Common Market Area, at least that’s my own personal opinion, having been in business in that Market Area, myself, from 1970 until 1988, when Nova Blue was one of our competitors in Northern Virginia. As to the bankruptcy of Nova Blue, I don’t think that this is the first time that Nova Blue went BK; if I’m recalling this correctly, Nova Blue went Chapter 11 years ago; I don’t remember exactly when that was, I think it was probably around 1990-1992.

I pulled off of the Internet several documents filed in the current BK case. But, I’m only going to post (in my Google Docs library of documents) two of the documents I pulled off the Internet.

One of those documents is the original Chapter 11 filing, filed on January 14 2011. Here’s the Internet address for that document: (It’s a large file, so give it some time to load!):

https://docs.google.com/viewer?a=v&pid=explorer&chrome=true&srcid=0B81al4kFAU9JZTgwZTExM2ItMjEzNy00MWZlLWEwMjctNDY3OTE3ZGVmNmI5&hl=en_US

The other document is a VERY INTERESTING document. Evidently, the BK Court installed a Trustee to run the company (I think that means that Richard Bartlett is not a debtor-in-possession of the company; he’s been replaced by the Trustee), and the document I’ve posted is a very recent (July 25, 2011) report from the Trustee, that speaks to the issue of what should be done with Nova Blue. If the Trustee’s report and plan are approved, it looks like Nova Blue will be closing a few of its distant VA locations (those not in the DC suburbs) and will be consolidating its Northern Virginia locations …. and then continue to operate. My interpretation of the Trustee’s report – the Trustee believe that it would not be in the best interests of Nova Blue’s creditors to liquidate/dissolve Nova Blue; he believes that the creditors will fare better if Nova Blue continues to operate. Tyler Barrett, son of Richard Barrett, is working alongside the Trustee to operate the business. The Trustee, Mr. Strauss, might be in need of help from reprographics industry veterans, so, those of you who have time, how about lending him a hand.

The Trustee’s report is located at this Internet address: (It’s a large file, so give it some time to load!):

https://docs.google.com/viewer?a=v&pid=explorer&chrome=true&srcid=0B81al4kFAU9JMzRjYWNlNTMtYzJhYy00MDMyLThlNDEtNjk0MzllMjk4Mzhk&hl=en_US

If you want to follow this particular case, sign up / register at www.pacer.gov. I don’t plan on doing any further reporting about this case.