It has been purchased by Rennaissance Mark, a Denver-based company owned by Greg Mosher and Arsenal Capital Partners.
Chairman Paul Reilly said: "The sale is a key step in narrowing our lines of business and reducing our debt load."
Mail-Wells first-quarter combined sales were down 9.5% on last year to 270.4m ($391.7m).
Overall the company recorded a net loss of 14.9m compared to a profit of 2.5m last year.
Have your say in the Printweek Poll
Related stories
Latest comments
"Gosh! That’s a huge debt - especially HMRC! It’s a shock that HMRC allowed such an amount to be accumulated."
"Whatever happened to the good old fashioned cash job! At least the banks didn't take 2-3% of each sale. After 30 odd transactions that £100 quid you had has gone."
"It's amazing what can be found on the "web" nowadays!"
Up next...
Replacement 'will be operational later this year'
Walstead makes decision on Bicester 64pp
'Ridiculous decision'
Unite “prepared to fight” on proposed DS Smith site closure
Also helps mitigate volatile energy prices
