Collapsed newspaper printer All Colour Media Printing (ACM) is auctioning off its equipment, customer lists, stock, and IP, as it seeks to recoup the $4.5m owed to creditors.

Australian Printer had originally reported that the debts were in excess of $1m, and has recently learned that the total figure sits closer to $5m.

Employees of the Clayton South, Victoria business are owed $272,000, and trade creditors twice that amount, $552,144.

Secured creditors are owed $1.4m, while the ATO is chasing up $400,000 from the business.

Related parties, which are undefined by the receivership company, Jirsch Sutherland, are owed the largest amount, $1.9m.

Up for auction are two Muller Martini binding lines, a three tower, four-colour Goss Community press, including a Folding Machine, four Auto Pasters, a right angle paper feeder, UV curing units, along with Kodak platesetters, a stacking/collating machine, and a host of other offset printing machinery, and warehousing equipment.

The full list of equipment for sale can be found here, with Hymans handling the auction.

The site printed local community newspapers, according to a former client, with many now being left without a printer.

The company was placed into receivership on October 3, with Jirsch Sutherland appointed receivers and managers by Scottish Pacific, which the receivers say was owed in excess of $1m under its debtor finance facility.

Jirsch Sutherland says the debtor finance facility was first provided to All Colour Media in mid-2017 by Scottish Pacific, with the Victorian printer recently defaulting.

All Colour Media was then placed into liquidation on October 5, with Dye & Co appointed liquidators.

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