Good Impressions entered administration in March with more than $1.2 million of debt, but was able to continue trading after director Peter Edwards agreed to a Deed of Company Arrangement. Good Impressions and print business Sydney Allen then came to a “handshake deal” in August to merge, Edwards told ProPrint at the time.

The deed obliged Edwards to pay $650,000 over the course of 18 monthly instalments starting from July, but administrator John Vouris of Lawler Partners told yesterday’s creditors meeting that he had not received any money after the initial payment.

The creditors, therefore, accepted Vouris’ recommendation to wind up the company and appoint him liquidator.

[Feature: Print’s bad debt burden]

It remains unknown what, if any, impact the liquidation will have on the relationship between Good Impressions and Sydney Allen. Neither party returned ProPrint‘s repeated calls.

At the meeting, creditors questioned Vouris on the connection between Good Impressions and Sydney Allen, which Vouris said remained unclear.

ProPrint understands that Sydney Allen has moved into Good Impressions’ Condell Park premises.

Vouris said he had been unable to investigate the relationship between the companies while the Deed of Company Arrangement operated, but would now try to find out the nature of the relationship and whether any assets could be recovered.

The liquidation means that Good Impressions staff can now apply to the Federal government for their entitlements under the General Employee Entitlements and Redundancy Scheme.

[Related: More news about companies in distress]

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