Multi-Color Corp. Opens New Jersey Bank Accounts Despite No Local Facilities

In Brief

Multi-Color Corp. opened business accounts in New Jersey, drawing attention due to lack of local operations.

Key Facts

• Multi-Color Corp. is based in Atlanta and operates nearly 40 North American facilities.
• The company opened small business accounts at ConnectOne Bank in New Jersey.
• Multi-Color Corp. has no facilities located in New Jersey.

What Happened

Multi-Color Corp., an Atlanta-based label manufacturer, opened business accounts at a New Jersey bank despite not having any facilities in the state.

Why It Matters

The move has drawn attention from creditors, as opening accounts in a state where the company has no operations is unusual and may have legal or financial implications. Based on a single source report

What's Next

Observers may monitor for further developments regarding the company's banking activities and any creditor responses.