Sydney commercial print business Reactiv is in liquidation with owner Kingsley Moore saying its demise was mainly due to financial problems inherited during the 2015 takeover of another Sydney printer as well as his own health problems in the last 12 months.
Reactiv, based in Sydney’s Rydalmere, started in October 2015 when Moore took over Impress Printers which was itself in liquidation.
Moore told Sprinter he has been fighting to keep the business going for the last four years and remains passionate about the print industry but it had all become too much with Focus Print Group acquiring Reactiv’s customer list, printing equipment and eight to nine of the 22 staff.
“My staff worked right up until the end and they have all been paid out in full and all their entitlements are covered. What I am trying to do is do the best I can to support the creditors as much as I can. I don’t have an answer right now but all I know is I want to support the creditors as far as I can,” Moore told Sprinter.
“Focus Print Group have acquired my clients, majority of the equipment and a number of staff.”
Moore said starting out from behind had not helped in his journey with Reactiv.
“Impress Printers went into liquidation and I took it over from the previous person and I then inherited a lot of issues and problems. So I started Reactiv on the back foot,” he said.
“I have faced a lot of adversities on top of the print industry being a declining industry.
“The staff that I employed were great people and they have become really good friends and are solid trades people in the industry. They are quality people. I am out there canvassing now to find them all work in the industry.”
Moore is actively looking in the industry for work for these tradespeople, adding they continued working hard right up until the very end when the PKF liquidators took over the business last week on August 29.
Marking another significant challenge Moore said he suffered a heart attack last year and then earlier this year broke his leg which put him out of action for 10 weeks.
As the sales manager at Reactiv this also played a part in the business’ financial difficulties.
“Through my journey over the last four years I was able to succeed through that by the support of my suppliers and creditors. It’s ironic that the position I am in now but I can’t tell you how good they are and how they rallied behind me,” he said.
“They were really good supporters.
“I am really thankful the support I’ve had through my suppliers and creditors and more importantly my staff.”
He also spoke of his respect for the print industry, noting it is declining and facing extra challenge from the economic downturn.
“The print industry has looked after me for over 30 years and it is a great industry. I am very passionate about it as an industry. The people I’ve met have been wonderful and it has been really good,” he said.
The Australian Securities and Investment Commission posted the notices of liquidation on its website last Thursday with both Reactiv Pty Ltd and Reactiv NSW Pty Ltd in the hands of liquidator Bradley Tonks from PKF.
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This is so terribly sad to hear. I know Kingsley to be a very passionate and decent man who always put his team first. He had a lot of challenges along the way and most recently more serious ones. On behalf of our industry Kingsley we wish you strength and recovery in aspects of your personal and professional life. You are a true gentleman.
That’s too bad for everyone, it’s difficult being in business these days and it’s even more difficult when the business folds. Hopefully employees will quickly regain full employment and the losses can be overcome by creditors without it causing too much grief.
Good luck.