At the Meeting, creditors appointed Matt Adams, Peter Allen and Quentin Olde of Taylor Woodings as liquidators of the Company. Creditors also appointed a committee of inspection to assist the liquidators.

Matt Adams says, “In broad terms, we consider Chippendale failed because the company’s fixed costs and hence capacity exceeded their revenue. This factor was coupled with the general decline in the printing industry in recent years.”

Adams continues, “The potential for a merger with Beaver Press Sales was not possible once Beaver Press and the Company were placed into voluntary administration.”

The liquidators will now be required to complete the investigation they commenced as voluntary administrators into the past dealings, actions and affairs of the company, its directors and all related parties.

In addition, the liquidators will realise the remaining assets of the company and commence certain recovery actions if their merits and funding allow. Chippendale employees can now apply for their entitlements to be paid under the Federal Government’s GEERS Scheme, according to Taylor Woodings.

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