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Collapsed All Colour owes $4m+

Wednesday, 24 October 2018
By Wayne Robinson

Up for grabs: Goss three tower Community press

Melbourne-based community newspaper printer All Colour Media Print collapsed with debts in excess of $4m, with the liquidator Dye & Co now auctioning off the kit in the hope of recovering some money.

However trade creditors are unlikely to see much, if any, of the $550,000 they are owed between them, as secured creditors are owed $1.4m, while the ATO has $400,000 in payments due.

Likewise employees are unlikely to see the $270,000 due to them in lost entitlements, and will have to look to the government’s Geer scheme to see their super paid.

The company was put into liquidation by its factoring company Scottish Pacific, which was owed around $1m. All Colour had been factoring for the past year. Parties related to the owners are owed $1.9m on the books.

Receiver and manager Jirsch Sutherland has appointed Hymans to auction the kit. Viewing takes place Oct 31 between 8am-4.30pm at 126 Fairbank Rd, Clayton, and online, with the auction the next day from 11am, live and online.

Among the kit up for sale is a 1990 three tower Goss Community four-colour web press, two Muller Martini bindery lines – a Practico and a Primo – and a Kodak Trendsetter CTP.

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