FAQs

DRF Customer FAQs:

  1. What did Pitney Bowes announce?
  • Pitney Bowes announced that it has sold a controlling interest in DRF to an affiliate of Hilco Global. 
  • Certain DRF entities will conduct an orderly and efficient liquidation under the protection of Chapter 11 of the U.S. Bankruptcy Code.
  • Pitney Bowes’ Board and DRF’s independent board concluded that this exit path for DRF is in the best interests of stakeholders following a comprehensive strategic review.
  • Importantly, Pitney Bowes’ SendTech, Presort and Financial Services businesses will continue to operate in the normal course, and customers, partners and vendors of those businesses should not expect any impact.
  1. Will DRF continue providing services until we can find another provider?
  • DRF will be operating for a very short period of time to enable customers to transition to other providers. 
  1. What happens to our contracts with DRF? How does this affect the way we do business with Pitney Bowes?
  • All contracts with DRF are subject to the Chapter 11 process.
  • Payment for services provided both before and after this announcement is due in accordance with your current contract terms.
  • Pitney Bowes’ SendTech, Presort and Financial Services businesses will continue to operate in the normal course.
  1. Will DRF continue operations throughout this process?
  • DRF will be operating for a very short period of time to enable customers to transition to other providers.
  • DRF has secured a debtor-in-possession loan to support an orderly wind-down in Chapter 11. 
  • Importantly, Pitney Bowes’ SendTech, Presort and Financial Services businesses will continue to operate in the normal course, and customers, partners and vendors of those businesses should not expect any impact.
  1. What does this mean for DRF’s Domestic Forward Standard Delivery customers?
  • Below is the transition timeline for DRF clients to mitigate potential disruptions:
    • Access to DRF’s online label (API) will be turned off at 5 pm EDT August 13, 2024.
    • Access to DRF’s manifesting system (FTP upload) will be turned off at 8 pm EDT August 13, 2024.
    • All parcels physically presented to one of our facilities no later than 12pm (local time) August 17, 2024 will be delivered so long as they are properly labeled and manifested.
    • Any parcels or vehicles arrived to DRF’s facilities after 12pm (local time) August 17, 2024 will be turned away.
    • Any parcels received by PB GEC not properly labeled or manifested will not be accepted. Rejected parcels will be available for pickup from the facility at which they were received until 5pm (local time) August 17, 2024.
  1. What does this mean for Domestic Returns customers? 
  • Below is the transition time for DRF clients to mitigate potential disruptions:
    • Access to DRF’s online label (API) will be shut off at 5 pm EDT August 13, 2024.
    • Access to DRF’s manifesting system (FTP upload) will be shut off 8 pm EDT August 13, 2024.
    • DRF will process parcels for its Returns service manifested to DRF no later than 5 pm EDT on August 13, 2024.
    • DRF will continue to pick up Returns parcels from the USPS network until September 5, 2024.
    • DRF will continue to drop off consolidated Returns parcels to clients’ facilities until 8 pm September 9, 2024.  After this date, it is the client’s responsibility to collect any remaining parcels that consumers have dropped off into the USPS network.
    • Pick-up / Drop-off network (PUDO):  We will not accept any Returns parcels into DRF’s PUDO network after August 9, 2024.
  1. What does this mean for Domestic Cross-Border U.S. Outbound customers?
  • DRF will deliver all parcels manifested to us by August 13 at 8pm (local time), and physically presented to our buildings by August 17 at 12pm (local time).
  • Access to DRF’s online label (API) will be turned off at 5pm EDT August 13, 2024.
  • After this point, clients will need to make other arrangements to provide returns labels to their customers.
  1. What does this mean for Domestic Fulfillment customers?
  • Pitney Bowes Ecommerce Fulfillment business has been acquired by Stord. Domestic Fulfillment operations will continue under Stord’s ownership.
  1. What does this mean for UK Cross-Border customers?
  • Our UK Cross-Border business will continue to operate as usual. 
  • That said, potential disruption is expected for those customers using DRF domestic services during the U.S. bankruptcy process.
  1. What does this mean for Intra Canada Domestic service?
  • DRF will be ceasing operations related to Canada.
  1. As an Expedited customer, will I be impacted by the DRF wind-down?
  • No.
  • If you receive Expedited services through SendTech, Pitney Bowes does not expect any disruptions to your services. 
  1. How can I obtain more information?

DRF Partners/Vendor FAQS:

  1. Will DRF continue to pay its partners/vendors?
  • All contracts with DRF are subject to the Chapter 11 process.
  • DRF intends to continue payment for services already provided in accordance with existing contract terms.
  • As announced, DRF has secured a debtor-in-possession loan to support an orderly wind-down in Chapter 11. 
  1. Why should vendors continue to do business with DRF?
  • DRF intends to continue working closely with its vendors and pay for goods and services delivered after the filing under normal terms. In fact, the bankruptcy court rules require DRF to do this.
  • As announced, DRF has secured a debtor-in-possession loan to support ongoing operations to allow for an orderly wind-down. 
  1. When will DRF partners/vendors be paid past due amounts? What is the status of our accounts receivable?
  • The Court will establish a claims process to address any amounts owed to vendors or suppliers prior to August 8, 2024.
  1. Do DRF vendors need to submit invoices differently to be paid going forward?
  • No. DRF vendors should continue to submit invoices in the same manner they always have.
  1. How do DRF partners/vendors file a proof of claim?
  • DRF creditors will have access to a proof of claim form and filing instructions with a timeline shortly.

SendTech or Presort Customers FAQs:

  1. What does this announcement mean for me?
  • There is no impact to your day-to-day relationship with Pitney Bowes.
  • Importantly, Pitney Bowes’ SendTech, Presort and Financial Services businesses will continue to operate in the normal course, and customers, partners and vendors of those businesses should not expect any impact.
  1. What is Pitney Bowes doing to ensure continued service – and improvements – going forward?
  • Pitney Bowes is positioned to thrive with increased focus on its SendTech, Presort and Financial Services businesses.
  • Pitney Bowes’ SendTech, Presort and Financial Services businesses will continue to operate in the normal course.
  1. As an Expedited customer, will I be impacted by the DRF wind-down?
  • No.
  • If you receive Expedited services through SendTech, Pitney Bowes does not expect any disruptions to your services.
  1. How can I obtain more information?

SendTech or Presort Partners/Vendors FAQs:

  1. How does this impact me?
  • Pitney Bowes does not expect any impact to your day-to-day relationship with the Company.
  • Pitney Bowes’ SendTech, Presort and Financial Services businesses will continue to operate in the normal course, and customers, partners and vendors of those businesses should not expect any impact.

Pitney Bowes Bank FAQs:

  1. How do these actions impact my deposits? Are my deposits at risk?
  • Customer deposits are safe and are not at risk as a result of the actions to exit DRF. This decision and actions do not affect the Pitney Bowes Bank. Pitney Bowes Bank will continue normal business operations and remains an important part of Pitney Bowes, Inc. The Bank is very well capitalized and is a FDIC member bank. 
  1. How can I check my deposits?
  • Customers can access their deposits through normal channels by visiting www.pitneybowes.com and logging into their account and viewing the “Your Financials” page. Clients may also contact Financial Services support at 888-737-6486.
  1. How much of my deposits are insured?
  • There are federal guidelines that determine how much deposits are insured by the FDIC. We will be glad to connect you to one of our PB Bank experts who can guide you through the answer for your particular circumstances.
Chapter 11 Claims Agent

Stretto:
DRFInquiries@stretto.com

Toll-Free Case Hotline Number:
(855) 314-0664

International Case Hotline Number:
(714) 716-1968
‍
‍https://cases.stretto.com/DRFLogistics

Media Inquiries

Longacre Square Partners
Joe Germani / Jessica McDougall
‍jgermani@longacresquare.com / jmcdougall@longacresquare.com

Investor Relations

Alex Brown
‍investorrelations@pb.com

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