Ted to launch a plan to install 2000 poster racks a year in retail racks around the country. Trouble first appeared when Elvis died. Seeing a huge money making chance Pro Arts released a regal poster of the King as a commemoration poster. A rival company who had bought all the rights to post-death Elvis memorabilia sued and even though Pro Arts eventually won the Elvis case they lost more than $1 million in sales and $150,000 on lawyers all for a paltry $17,000 in damages. Huge debt and rising interest forced Pro Arts to file for Chapter 11 bankruptcy in 1981. Over 600 creditors laid claim to Pro Arts and after years of lawsuits and a slumping poster business in 1984 the company was liquidated along with its Medina factory, its equipment, and ultimately Mike and Ted's houses. When the dust settled Ted Trikilis spent months going over just what happened and after viewing the paperwork claims that his own attorneys in cahoots with the legal system decided to tear apart Pro Arts for their own material gain. He eventually wrote a book, The Unindicted: From Farrah to Fraud, the True Story, where he went on to claim that double-crossing lawyers, inept Federal judges, crooked investors and the New York Mafia played their roles in dismantling Pro Arts. References Defunct companies based in Ohio Corporate scandals Publishing companies disestablished in 1984