R0110_BIZZ

A Colortree pressman works on a Heidelberg 8 color press.

Henrico County-based printing company Colortree Group Inc. is closing "some or all of its divisions" and laying off 240 employees, according to a notice the company sent to state and local officials.

The company, which makes printed materials for the direct-mail industry, appears to have shut down its office and plant at 8000 Villa Park Drive. The doors to the office were locked Monday afternoon and the parking lot was empty.

The company filed a WARN Act notice, dated Monday, informing the Virginia Employment Commission and the Henrico County Manager's office of the job cuts. The VEC received the notice Tuesday.

The letter said job cuts started Monday.

"Many of Colortree’s approximately 240 employees at this worksite will be laid off as a result," said the letter, signed by Colortree's President and Chief Executive Officer Pat Patterson.

"The anticipated closure of certain Colortree divisions, and resulting layoffs, will be permanent," the letter said. "Employees will be paid through that date (June 3) regardless if the facility or division in which they work closes sooner."

Phone messages left for Patterson on Monday afternoon and Tuesday morning were not returned.

The notice filed with the state did not give a reason for the closure.

The notice includes a list of 240 affected jobs, a combination of production, maintenance, administrative and management roles. The management jobs listed include the chief operating officer, the vice president of human resources and the vice president of marketing.

Colortree, founded in 1988, operated in a 73,000-square-foot plant near Bryan Park for about 16 years before moving to a 105,000-square-foot plant on Villa Park Drive.

In a 2008 interview with The Times-Dispatch, the company's then-executives said it produced about 1 billion envelopes a year for customers such as businesses and nonprofit organizations that send direct-mail advertising or solicitations.    

In 2011, Colortree and Graphics Innovations, a specialty printer of direct-mail products, were acquired by Pat Patterson and Boathouse Capital, and the two companies were combined with Patterson as CEO.

Patterson became sole owner of Colortree Group in late 2016 when his Stingem Management Group LLC acquired Boathouse Capital’s 72 percent stake in the company he didn’t own.

Colortree Group had grown from 185 employees in 2011 to 235 workers in 2016. Its revenue soared from $32 million in 2011 to $60 million 2016.

Get breaking news emails

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Recommended for you

Load comments