On Monday, March 31, Vertis Communications Inc. reported a $327 million loss for 2007 and hired financial advisory firm Lazard Ltd. to help implement a financial restructuring plan. The move comes after Vertis evaluated its $246.5 million in goodwill during the fourth quarter of 2007 and "determined that, because of the company's debt load, the value of the $246.5 million should be written off to assure technical compliance with the accounting rules," according to Mike DuBose, chairman/CEO of Vertis.