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$1.7m in debt, Melbourne’s Retail liquidates

Wednesday, 11 October 2017
By Print21

Melbourne digital printer Retail Communications has closed its doors and gone into liquidation, leaving behind a debt of $1.7 million. About 15 staff members have lost their jobs.

A notice published on the ASIC site says: “A general meeting of the members of the Company held on 25 September…resolved that the company be wound up and that Con Kokkinos and Matthew Kucianski [of Worrells Solvency & Forensic Accountants] be appointed liquidator(s).”

Kokkinos told Print21 that Retail Communications owner/director Mark Archibald and his accountant made the decision to cease trading and go into voluntary liquidation because of insufficient funds.

The liquidators are now in the process of trying to market and sell the business and/or its assets. Some of the dozens of creditors who are owed substantial amounts of money have expressed keen interest in who might buy the equipment and the assets.

An industry source says the business went broke owing $1.7m and the move into liquidation came as a shock to about 15 employees, who have all lost their jobs. 

Street View: 19 Coora Rd, Oakleigh South, VIC.

The company, based at 19 Coora Rd, Oakleigh South in Melbourne’s south-east and with an office at Brookvale in Sydney, specialised in retail printing and print media, large format print, retail displays, cardboard displays and point of sale.

According to its website: Retail Communications has the advantages of offshore printing for larger runs. We work with a select printing factory in China that produce quality work. This means cost savings to our clients, and we can produce catalogues, books, point of sale material, packaging, cartons, bags, presentation folders or any other printed matter.

The company was an early adopter of Fujifilm inkjet technology and its tech line-up included an Inca Onset S20 and Onset S40i, an Esko Kongsberg XP cutting table, an HP Latex L65500, an HP Designjet Z6200 Photo Printer and a Mutoh ValueJet 1638 64” wide format printer.

The liquidators are now preparing an initial report for creditors.

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