Mitchell Press files NOI, sells customer list to Dollco as Burnaby printer winds down

Mitchell Press Limited filed a notice of intention to make a proposal on August 31, 2026, with MNP Ltd. as proposal trustee. The Burnaby printer is winding down, and on September 17 the court approved the sale of its customer list to Dollco Print Solutions Group Inc.

A family printer since 1928

Howard T. Mitchell founded the company to publish newspapers. Today it is a family-owned printer of magazines, catalogs and books, with about 330 customers and 64 employees, 34 of them union. Revenue was about $16.9 million in the year ended February 2026.

A failed press and a costly refinancing

In 2022, after several years of losses, Mitchell Press bought a $5 million digital press. It had technical issues, which the manufacturer disputed, and the new work never materialized. The company leaned on its BMO credit line, which grew to about $4 million. Then its largest customer, about 25% of sales, left, and tariffs and labour disruptions cut into demand.

In late 2025, the group refinanced BMO out. Slow Loris Holdings Ltd., a Mitchell Group entity that owns the Burnaby facility, borrowed $17 million from Valiant Mortgage Inc. and lent about $14.5 million of it to Mitchell Press. The higher debt costs pushed the company into a liquidity crisis. At June 30 it held $9.08 million of assets against $17.99 million of liabilities.

One buyer after a year of looking

Mitchell Press began seeking a buyer in June 2025. One party walked away after five months of talks. A Canadian M&A firm declined the mandate and advised winding down. Of 16 print companies approached, seven signed NDAs and only Dollco made an offer. The trustee says a sale process run after filing would have cost the company its customers, so the NOI was filed to protect the deal and the business while it wound down.

Royalty deal, then a proposal

Dollco will pay 5% of the revenue it collects from the acquired customers over three years. No cash is paid at closing, which must occur by October 31. Dollco takes no liabilities and may hire Mitchell Press staff.

The company will then sell its remaining equipment and make a proposal to creditors, so that tax attributes within Mitchell Press can benefit the Mitchell Group. It also sought a deadline extension to November 14. Its forecast shows cash falling to $16,781 by mid-December.

Counsel includes Osler, Hoskin & Harcourt for Mitchell Press, Richards Buell Sutton for the trustee, DLA Piper for Dollco, and Koskie Glavin Gordon for Unifor Local 2000.