The Brisbane printer entered administration on 22 February and was liquidated on 2 April.
Liquidator Bill Cotter from Robson Cotter Insolvency Group told ProPrint that while a debt position had not been finalised, Cynergy probably owed between $300,000 and $900,000. He added that there was "no real prospect of any return" for unsecured creditors and unlikely to be much money to pursue any potential return on their behalf.
Cotter said Cynergy's leased Komori Lithrone, which it acquired from failed business D&D Printing, had been held under security and reclaimed by its financier.
The auction list includes five assorted Heidelberg cylinder and letter presses, a Polar 115 ED guillotine, a Muller Martini saddlesticher, a Harris Macey saddlestitcher and three Epson Stylus Pro 9800 plotting machines.
There is also an array of folding machines, including a three-stage MBO T800, two-stage Desta BAS-FSA 500 and Stahl KD78 folder with stacker.
The auction is being conducted by Global Auctioneers. The machinery can be viewed live on 6-7 May and online bids can be placed from 6-9 May. Click here for more details.
[Related: More news about companies in distress]
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