Managing director of Ability Press Michael Wu has been shown the door at Docklands Ability Group, standing accused of being less than truthful to his business partners over last year’s mega merger.

According to Docklands Ability Group co-owner Abbey Aboughattas one time partner Wu was dismissed after it emerged that the Ability Press figures going into last year’s mega merger may not have been accurate.

Aboughattas accuses Wu of doing the wrong thing by the group, and says that information he passed onto Docklands before the merger was wrong. 

Aboughattas was pressed for further details but has only disclosed that the misleading information given was of a financial nature.

Wu has since stepped down as both a director and shareholder. Despite Wu’s exit, his sales representatives will stay on board as the group tries to manage its client base with the Aboughattas brothers, Moody and Abbey remaining at the helm. 

Wu’s shares in the company have been passed over to offshore Chinese investors.

Last year Wu’s business Ability Press entered into the massive merger with Docklands Press and Mercedes Waratah. 

The amalgamated business began trading under a new entity, the Docklands Ability Group which brought in presses from Ability and also took over existing on-site equipment of Mercedes Waratah. 

Following the merger, Ability Press continued to trade separately under the same name, however it has now ceased operating.

Industry insiders point towards significant debt Wu owes to a number of Melbourne businesses as the cause of Ability’s woes.

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