A Chicago-area printer since 1911, American Printers & Lithographers Inc. of 6701 Oakton St. in Niles, has filed a Chapter 11 bankruptcy petition to restructure about $2 million in debts.
”We have a plan and hope to work ourselves out of this,” said Robert Lifton, the company`s chairman. American Printers is a full-range commercial- printing firm employing 240 workers.
It produces advertising posters and displays, and does financial printing.
The sluggish economy, Lifton said, is ”a major part of our problem.”
When founded, the company operated in Chicago at Logan Boulevard and Diversey Avenue. It moved in 1964 to a 6-acre site in Niles.
The petition before Bankruptcy Court Judge Jack Schmetterer seeks to negotiate a plan with American Printers` creditors and its lender, LaSalle National Bank.
”The company is operating and will continue to operate, and expects to reorganize in a short period of time,” said American Printers` lawyer, Richard Bendix.
