Atlanta-based label maker Multi-Color Corp. has drawn scrutiny for opening small business accounts at ConnectOne Bank in New Jersey, despite having no operations in the state. The move comes as creditors raise questions about the company's strategy of establishing banking relationships nearly 900 miles from its headquarters.

Multi-Color, which operates nearly 40 North American facilities, has no Garden State presence. The company's decision to court New Jersey banking relationships has sparked debate among creditors about potential motives. Some speculate the move could be related to court jurisdiction shopping, though the company hasn't publicly addressed these concerns.

This banking maneuver highlights how corporate financial strategies can raise eyebrows when they appear disconnected from operational realities. The case underscores the complex relationship between corporate banking decisions and creditor oversight in today's business environment.