Affinity Printing owner and well known industry identity, Steven Todisco has purchased the customer list of the collapsed Pax Printers for an undisclosed sum.

The 35 year-old Dandenong South printer went into liquidation last month after the business was swallowed by mounting debt. It is now confirmed 28 unsecured creditors are owed an unspecified sum by Pax.

Speaking to Australian Printer, Todisco says the customer list is a good fit for Affinity and will increase its customer base.

He says, “Pax Printers did not invest in machinery, so I think we will be able to offer those customers a streamlined service, and obviously a wider gamut of service with our in-house foiling and embossing.”

Director of liquidators PKF Melbourne, Terence Petersen told Australian Printer some of the creditors may never see a cent of their money back, despite the customer list being sold off.

Petersen says on top of the 28 unsecured creditors, four Pax employees are owed staff entitlements which rank ahead of any distribution to unsecured creditors.

“We will be dealing with the creditors in relation to the liquidation in due course,” he says. “It is unlikely that all the creditors will receive their money, we are looking at a very small printing business.” 

Petersen says Pax director Alan Stewart is currently assisting Todisco with the migration of the customer list, however he could not confirm the situation for the other staff. 

Pax’s plant and equipment are now listed for auction on GraysOnline.

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