The companies, based in neighbouring sites in Artarmon and both trading names of Lochlile Corp, appointed McGrath Nicol’s Murray Smith and Joseph Hayes last Wednesday.
The businesses employ a total of around 50 staff and were continuing to operate when contacted by ProPrint.
A McGrath Nicol spokesperson told ProPrint the administrators were currently reviewing the state of the business but would not comment further.
McGrath Nicol put an ad in the Saturday edition of the Sydney Morning Herald asking for expressions of interest from prospective buyers, with a closing date of this Thursday, 25 February.
According to the ad, the sale covers both businesses and assets, including “a state of the art pre-press department, eight printing presses, ‘two cylinders’, four platens and requisite bindery equipment, “including Stahl folders and a Horizon collator, folder, stitcher, trimmer”.
“The business generated revenues for the year ended 31 July 2009 circa $7m, with actual revenues for the six months to 31 January 2010 of $2.6m,” the ad stated.
“The administrators are prepared to consider offers for a sale of all or part of the business and assets, and have no restrictions on the sale structure at this time.
“Bids seeking to retain experienced employees will be favourably considered. Indicative offers are sought by 4.00 pm on Thursday 25 February 2010,” according to the ad.
The companies’ owner, Michael Liley (pictured), acquired The Printing Department last year. Liley declined to comment to ProPrint.
Earlier this month, The Printing Department installed a Screen direct imaging Truepress 344. It also recently bought a Konica Minolta LD6501 Professional digital press, distributed by Screen, as part of its expansion into digital.
In an interview with ProPrint late last year, Liley said of The Printing Department acquisition: “We didn’t want to have to begin by investing heavily in new equipment, so by acquiring a well-developed, modern shop we were able to hit the ground running.”
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