Standard Register

Dayton-based Standard Register has filed Chapter 11 bankruptcy.

In the announcement Thursday, the company also says it's entering into an acquisition agreement with Silver Point Capital - a private investment firm. The purchase price is about $275 million.

Standard Register says the sale should right-size the company's balance sheet. It was hit hard by the declining print market.

Standard Register is being delisted by the New York Stock Exchange.

The move comes after the Dayton company failed to maintain standard listing requirements for 30 consecutive trading days. Those requirements include maintaining an average global market capitalization of at least $15 million.

In a statement, the company says it does not plan to appeal.

Dayton-based Standard Register is purchasing another Dayton company, WorkflowOne, in a deal worth $218 million.

Standard Register says it expects to achieve $1 billion in annual revenue and $40 million in annual savings thanks to the deal. A release says WorkFlowOne will initially operate as a subsidiary with its CEO staying on in an advisory role.

The combined company has 4000 employees, including more than 900 in Dayton.