Peter Allen, Quentin Olde and Matt Adams of Taylor Woodings have been appointed voluntary administrators. The move follows reports earlier this month of Chippendale’s plans to merge with troubled Sydney printer Beaver Press, which has also gone in to administration.

Taylor Woodings Partner, Quentin Olde says, “Over the coming days, we will investigate Chippendale’s financial affairs. Following this, we will be in a position to determine the best way forward for the company.” Olde continues, “We will work with the management to determine the best outcome for all stakeholders.”

Employees were notified of the voluntary administration at a meeting this afternoon (Tuesday). A skeleton staff will remain in place to support the administration process.  The first creditors’ meeting will be held on April 30 and creditors will receive further notification and information by mail.

In 2008 Chippendale was bought by the Helmsman private equity fund, which specialises in buying historically profitable companies that are suffering a liquidity crisis. Located in Sydney’s inner west Chippendale at one time laid claim to be the most advanced print house in Australia, with a pair of networked manroland 12-colour long perfectors running side by side around the clock. However the past two years have seen the company in constant struggle, its recent paper supply for instance is rumoured to have been COD.

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