William Cotter from Robson Cotter Insolvency Group was appointed administrator of the Brisbane-based print firm on 22 February. A secured creditor then appointed Helen Newman from BDO as receiver on the same day.
Cotter told ProPrint that Cynergy had immediately ceased to trade and that all 15 staff had been dismissed.
However, he added that it was possible the business might be revived if a potential buyer stepped forward quickly.
[Opinion: Do forensic checks before extending credit]
Cotter said it was too early to say why Cynergy failed. Director Scott Wakefield could not be reached for comment.
Cynergy's asset and debt position is still being investigated, but Cotter said the company owed at least $350,000.
Scott Wakefield had previously worked at D&D Printing, the commercial printer based in the former Geon and Scanlon Printing site in Bowen Hills, before calling in the liquidators owing $800,000 in April 2011.
After D&D's collapse, Wakefield established Cynergy, hiring D&D's former owner Bob Dunsmore and taking on its 40-inch Komori Lithrone.
According to Cynergy's website, most of its clients were "print-industry based such as other printers, print management companies, government, graphic designers and advertising agencies".
The first creditors meeting will be held on 6 March.
[Related: More news about companies in distress]
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.
Sign up to the Sprinter newsletter