A time-honored industry

Mal Dunn, one of the oldest direct marketers, has filed for chapter 11 bankruptcy this past Friday.

Until the move, the company was working toward streamlining its business, focusing on the success of its database division. But despite taking on loans and other forms of financial assistance, revenue continued to decline due to an "erosion of margins, commissions and mail volumes," according to DM News.

The company won't shut its doors completely, but will continue to offer services to a select group of clients.