Colad comes out swinging a year after quick closing
Last summer Colad Group Inc. looked like a dazed prizefighter on the ropes after laying off 292 workers when a local bank called in $6 million in debt and forced the closing of the high-quality printer.
But before the end of the July tencount, management got the Buffalo company off the mat, on its feet and back into the fight.
Bill Brosnahan, chief executive officer at Colad, worked out a deal with Manufacturers and Traders Trust Co. to buy back $5.4 million in company assets held by the bank and then rehired most of his work force.
Now, nearly a year later, Colad is dancing like a butterfly in the ring of custom presentation sales and advertising packaging, and punching its way to a predicted $20 million year.
"This is a tremendous opportunity. We are in a great position to grow this company," Brosnahan said.
Colad, Western New York's 59th largest …