BANNERSHOP EXIT LEAVES TRADE ANGRY

Bannershop’s exit from the Australian market has left many in the trade angry, with its trade creditors encountering little to no response from the company or its Hong Kong head office as they chase their money.

The sign and display printer pulled up stumps last month, leaving Australia after an 18-year stint here, but the company appears to have made little to no effort so far to contact its numerous trade creditors. Calls to the former Lidcombe head office line go straight to an answering machine, while the offices and the production centre are deserted.

Creditors calling Print21 have expressed their anger at the lack of communication from Bannershop, which ran under general manager Anthony Choi during its time in Australia, and now hold out little hope of seeing their money.

The landlord ITG had to gain entry to the company's Lidcombe facility after Bannershop's sudden exit through a formal notice of re-entry, and is also now chasing the recovery of rent owed to it by Bannershop, again to no avail so far.

The company's ABN and ACN are still active, under Bannershop International. Some of its former staff have been applying for jobs at other local print businesses.

Leaving the country under a cloud, Bannershop didn’t win many friends in the local print trade on its arrival in Australia either, with its early model of taking the orders here, printing the job in Hong Kong, and flying it back here the next day – and all for a price that left local printers scratching their heads.

However, local competition has ramped up significantly over the past few years, as local operators such as EasySigns and the Kwik Kopy franchisees started offering next-day, or, more recently, same-day delivery or collection on their wide format print products. Display print has also been integrated into the operations of a large number of commercial printers, also impacting the Bannershop market.

Some 15 years ago, Bannershop was seeking a major expansion on its base here in Australia, aiming to join or acquire large format print businesses in major cities, but the plan didn’t get off the ground.

On exiting Australia, Anthony Choi, the long-time manager at Bannershop Aus said, “After 18 wonderful years of serving our customers in Australia, we have made the difficult decision to cease trading. We want to extend our heartfelt gratitude to all of our loyal customers for your support and trust over the years. Your patronage has meant the world to us, and we are truly grateful and thankful for your support. Thank you for being a part of our journey.”