BPA was placed in receivership on 19 March by secured creditor National Australia Bank.
The business was bought out of receivership by an unrelated company, NewTone, in April. It retains the business name BPA and is being combined with NewTone.
NewTone director Mark Shergill told ProPrint: "NewTone is not connected in any way with BPA's former directors. NewTone is an unrelated business."
The debt of the former BPA was not included with the NewTone deal. This shell company was liquidated on 29 May.
ProPrint has acquired a report by the receivers of this shell company, Deloitte, that lists $5.1 million of debts. According to the report, which was current up to 30 April, NAB was owed $2.7 million, staff were owed $734,000 and unsecured creditors were owed $1.7 million.
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The unsecured creditors list showed debts of $552,000 for the big three paper merchants – $253,000 for Spicers, $187,000 for KW Doggett and $112,000 for BJ Ball.
Other debts included $470,000 for The Bindery, $139,000 for Pageset and $66,000 for Heidelberg.
BPA's liquidator, Glenn Spooner from Cor Cordis, told ProPrint it was too early to say how much money creditors would get back.
The Bindery's managing director, Rob Dunnett, said the firm would overcome any financial hit through "good management of cash and a substantial cash balance in the bank".
The main press at BPA was actually owned by a separate company, Colmbine Pty Ltd, which was also placed into receivership on 19 March by NAB. Deloittes said the bank was owed $2.7 million, mainly for a 10-colour Heidelberg Speedmaster SM 102 perfector and two Océ Varioprints.
BPA's former directors, Brett Turnley and Graham Burgess, are also directors of BTGB Investments, which was established in July 2012. BTGB is the holding company for a new business called Kandooit Creatively, which was registered on 24 April 2013, according to ASIC.
Shergill from NewTone told ProPrint that several BPA staff had quit to go to Kandooit. He also said some former BPA customers had gone to Kandooit.
ProPrint has tried to determine more information about Kandooit Creatively. We left three messages for Turnley but did not hear back from him. A mobile number for Burgess now diverts back to BPA.
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BPA Print Group is in no way connected to Sydney print management company BPA (Business Print Australia).
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