Quebecor World has filed its plan of reorganization with the U.S. Bankruptcy Court. The company plans to make a similar filing in Canada in the first week of May, it said.
Earlier this month, the printer said it reached an agreement [0] with its creditors that it could allow the company to emerge from bankruptcy protection as early as mid-July.
Meanwhile, Quebecor has signed multi-year contract extensions with Forbes Media, to provide printing and logistics services for its magazines, and with Rodale to print its hardcover and paperback books.
Last week, Quebecor said it [0] reduced employee salaries company-wide by 10 percent, and cut one week of paid vacation time. The moves were made as part of the it’s overall cost-cutting initiatives, the company said.
