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Bidding opens in Colony liquidation sale

Wednesday, 29 March 2017
By Print 21 Online Article

Lot #4: Sakurai 5 colour printing press

Auction house O’Maras has opened bidding on printing machinery and equipment from collapsed Brisbane business Colony Printing, which went into liquidation earlier this month.

Pre-bidding on 89 separate lots will continue for the next week until a live webcast auction begins on Tuesday, 4 April at 10.30am. Onsite inspection at Colony’s Darnick Street, Underwood premises will be available from 8am on the Tuesday morning.

Items up for sale include a Sakura 5 colour printing press and a manroland 4 colour offset press, as well as guillotines, binding machines, folders, collators, a saddle stitcher, utility vehicles and a forklift.

Print veteran Peter Hutchinson established Colony Printing in 1979 before a combination of health problems and a tough market saw the company close its doors a couple of weeks ago.

In an update on Tuesday morning, a spokesperson for liquidators McLeod Partners told Print21:

The company’s director has advised that the reasons for the company’s failure is attributed to poor cash flow, increasing competition in the industry, advance in technologies requiring the update of plant and equipment and unsustainable pricing from competitors. I am not able to confirm who are the major creditors at this juncture as I am still in the process of receiving Proofs of Debt from the creditors.

Lot #5: MAN ROLAND 4 colour offset printing press

Lot #21: 1976 HEIDELBERG cylinder printing press,

More details from graeme@omaras.com.au

 

 

One Response to “Bidding opens in Colony liquidation sale”

  1. March 28, 2017 at 11:55 am,

    Comrade Dave
    said:

    just going by the pics looks a pretty good set up.

    A print shop that 15yrs ago would have been a strong competitor.
    But like all things we dont stay young and change is expensive.
    as my friend the physiologist tells me, the majority of her clients are the sme business market who are struggling big time on making the change in business, its not just printers who are hurting.

    all the best
    C. Dave

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