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You know what they say about rumors,
If you have them come and sit by me…
ITC sold to Blackford in January of 2020 right before the Covid 19 pandemic. Speculation on the street was that Blackford’s debt on the 3 companies was approximately $20,000,000.
Recently a rumor sparked that Arlington will close down the recently acquired (ITC) International Toner Corp. in Buffalo Grove IL. For several years now ITC has been losing money. Propped up by Blackford capital in an effort to retain top line sales numbers while prepping to sell their holdings in the imaging space that include Supplies Wholesalers, ITC and Cartridge World franchises. Blackford bankrupted Supplies Wholesalers in October 2021, leaving creditors holding significant bad debt. They then turned around and sold the assets of Supplies Wholesalers to ITC, its very own sister company. Speculation on the street was that Blackford’s debt on the 3 companies was approximately $20,000,000 and that the sale to Arlington was an asset sale around $10,000,000 leaving even more creditors holding Blackford’s bad debt.
In 2018 & 2019 ITC achieved record sales by adding new Chinese low cost products to their US Reman offering and switching some of their sales from high-quality USA Remanufactured products to Chinese New Clones. ITC sold to Blackford in January of 2020 right before the Covid 19 pandemic devastated the US economy and printing market leaving Blackford in a bad position that ultimately forced the Bankruptcy of Supplies Wholesalers and consolidation to ITC.
On another front and while not common, some USA Remanufactures made the move to re-selling cheap Chinese products instead of manufacturing in an effort to grow sales via reduced pricing, while hoping to improve profit margins. The issue is that they often were not upfront about which product they were distributing after switching over to the clone products. This fraudulent practice has lead to a significant decline is US manufacturing as well as US profits.
The views and opinions expressed here are those of the authors and do not necessarily reflect the official policy or position of Tonernews.com.
AuthorJune 23, 2022 at 11:58 AM
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