Posts Tagged ‘printer administration’

  • Sands Print shuts up shop in Geelong

    80 employees are shown the door as rescuers walk away from the iconic company. Book printer BPA Print Group picks up the brand and what’s left of the business.

    Deeply disappointed workers assembled this morning to hear administrator Jason Stone from Lawler Draper Dillon deliver the news that two prospective buyers had declined to proceed with the rescue package. They were told that the company would be shut down forthwith. Holiday pay and notice entitlements are secure but long service and other payments will depend on the Government-backed GEERS scheme.

    There was no further comment from the administrators at time of writing.

    The announcement brought to an end a tense administration where it was hoped industry players would be sufficiently interested to keep the company going. Staff were on short time in recent days as work levels fell away. “The presses have never been so well maintained, and the floors have never been so clean,” said one production worker.

    The failure involves millions of dollars in debt with unsecured creditors unlikely to receive any payment. As usual paper merchants provided the largest single group of unsecured creditors.

    Retail services company TIC Group is reported to be interested in some of Sands pick’n’pack operations with a few key staff supposed to be transferring. But for the vast majority there are few printing industry alternatives in the western suburbs of Melbourne.

    Sands Print was owned and managed by Mannie Stub and Ernest Lewin.