Seeking to drastically reengineer its flagging core business, Deluxe Corp. said it will close nearly two-thirds of its check-printing facilities over the next two years, company officials said last week.

Executives at St. Paul-based Deluxe said they would take a pretax restructuring charge of between $30 million to $35 million for the consolidation in the first quarter of 1996. The company said it plans to shut 21 plants by the end of 1997 - in addition to the five facilities already slated for closure.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.