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Graphic Impressions up for sale

Tuesday, 06 March 2018
By Print21

Blitz and Graphic Impressions at Mulgrave in Melbourne.

Melbourne magazine publisher Blitz Publications and its printing business Graphic Impressions have been wound up, leaving behind a trail of creditors reportedly owed hundreds of thousands of dollars.

Silvio Morelli, owner Blitz and Graphic Impressions.

The two companies filed separately for liquidation on Thursday last week and appointed Jason Stone and Glenn Franklin from PKF Melbourne as joint liquidators. 

High profile industry business consultant Richard Rasmussen, director of Ascent Partners, has been given rights to sell the business – excluding the plant and equipment, but including the customer list, data files, software, domain names, telephone numbers and logos.

“While it’s always sad to see a company go under, I see Graphic Impressions as a very good opportunity for anyone with an 8-10 Colour Perfector with experience in the magazine and book production sector. There’s $7.5 million in turnover, of which no more than 20 percent was tied up with Blitz Publications. The business is evenly spread over a number of incumbent customers.”

Offers on the Goodwill must be in by 5 pm Friday. Interested parties are advised to call or email Rasmussen to receive an information memo and confidentiality agreement.
(Mobile 0402 021 101). richard@ascentpartners.com.au

Blitz Publications and Graphic Impressions, which share the same address at 1 Miles Street, Mulgrave in Melbourne’s south-east, are owned by Silvio Morelli, who has been unavailable for comment. The companies’ phones both deliver a message saying: Mailbox is full and cannot accept any messages.

The businesses closed their doors in Melbourne on the same day, with about 60 employees across the two businesses being told that they had lost their jobs. It’s understood all employees have been paid up but have been left without holiday pay and some super.

Creditors are said to include local printers as well as paper merchants.

Since 1986, Blitz Publications & MultiMedia Group had grown into a leading health, fitness, sports and lifestyle publishing company with nine brands, including Women’s Health and Fitness, Natural Health, Nourish Magazine, Ironman Health & Fitness, Blitz Martial Arts, Fight Live TV and Natural Vegan.

“With 9 brands across 8 Media platforms, we reach a monthly audience of over 3.6 million passionate and loyal members,” according to the company’s website.

The printing business, Graphic Impressions, was established in 2001 and specialised in sheet fed offset production, both in-house and for magazine and book industry clients.

Liquidator PKF has been contacted for comment. It’s understood a creditors’ meeting will be announced shortly.

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