Cynergy’s production is underpinned by D&D’s 40-inch Komori Lithrone, but owner Scott Wakefield stressed that his new company was a completely separate entity.
D&D went into liquidation on 28 March with over $850,000 owed to unsecured creditors.
Wakefield told ProPrint that he had been receiving “grief” from local printers and was having a tough time securing credit.
“I think the perception from a lot of the printers is that we are continuation of D&D, but this is wholly and solely my company. I am director and ownership is shared with my father,” he said.
The company was formed one month before D&D’s collapse and employs seven staff, including former D&D owner Bob Dunsmore.
“Bob will be the production manager until the press and pre-press is up and running. D&D ran very well before the GFC and its move [into a much bigger site, seen as a major cause of its collapse]. The quality of the printing was very good, and Bob has a lot of experience.”
He said he had hired Dunsmore for his industry expertise, but would not consider him for a partnership.
ProPrint spoke to a number of the unsecured creditors who had been burned by the D&D liquidation who said they had refused to extend credit to Cynergy.
Wakefield said he had been able to secure seven-, 14- and 30-day terms with some suppliers.
Cynergy currently has about 12 clients, mostly former D&D customers, and Wakefield is now hoping to secure new work.
He said he was looking to buy a Xerox 700 digital engine. As well as the Komori press, Cynergy is operating a Fujifilm platesetter and finishing equipment picked up from D&D and Peninsula.
Peninsula Colour was forced to close its doors last November after its insurer denied a claim to replace flood-damaged printing equipment.
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