Barely two years after exiting bankruptcy, Allen Printing is beefing up its product range with the acquisition of another venerable player in Nashville’s printing sector. Allen, which is run by the Heffington family, recently bought Nashville Bindery Co., which has for nearly 50 years bound books

On firing your most troublesome customers, on learning how to manage during a crisis and why he likes movie soundtracks.

Two years ago, Shannon and Paul Heffington faced a daily tsunami of doubt and denial as their printing company hurtled toward eventual bankruptcy. Paul remembers the day when the numbness gave way to raw emotion: He collapsed and cried.

Turnaround consulting and management firm Tortola Partners has added to its roster several forensic accounting specialists and a locally based industry veteran who led the restructuring work of several national retail chains.

Restructuring firms, attorneys tap growing market for helping troubled companies

The turnaround guy has set up a cottage industry during the recession and slowed recovery, as more businesses need help to stay afloat.

Local finance entrepreneur Steve Curnutte has launched an investment fund targeting distressed companies and the lenders looking to fix them.

Allen Printing Co., which filed for protection from its creditors in June facing a high debt load and low cash levels, is set to emerge from bankruptcy proceedings today with a healthier balance sheet and a new lease on life.

Steve Avery knew in his gut things weren’t right.

His business was foundering as it faced a deteriorating economy and range of other challenges, and one day he decided it was time for a change.

“Pre-packaged” bankruptcies have surged as companies deal with the fallout of the economic downturn. It’s a trend that can lead to more favorable outcomes for debtors and large creditors, experts say, but the deals can also be difficult to broker and may further marginalize some smaller creditors and vendors.

RICHMOND, Va. — Movie Gallery, the owner of struggling movie rental chains Movie Gallery and Hollywood Video, is planning to close its remaining stores and liquidate as consumers are increasingly get movies through the mail, vending machines and high-speed Internet connections.