Former directors of a Melbourne printer that collapsed in May with debts of $230,000 are now working in a new print business operating in the same premises.

Liquidator Sean Rowland from Abbott Welsch says Digisign & Print sold its equipment to Intersolutions Pty Ltd before his appointment.

He says former directors Michael and Bianca Stewart are working in a business operating out of the same site in Hallam in southeast Melbourne, but are not directors of Intersolutions.

[Related: More companies in distress]

Intersolutions operates under three guises, each with its own website and product range. The main one is DGSP, which provides point-of sale, posters, and other wide format products along with business stationery.

The other two are Up On Design, which designs and prints wall coverings and stickers, and custom canvas printer Canvas Monster. Galleries on the two websites have the same samples.

Rowland says according to the directors the company collapsed because it lost a key client, had trouble collecting payments from customers, and because of general economic conditions.

Liquidators have not yet formed their own view on the firm’s demise because its books are incomplete and took two and a half months to be handed over, with the directors and their advisor blaming each other for the delay.

Rowland says one of the biggest creditors is a print equipment and consumables supplier that has some of the kit financed, though it is now worth less than the outstanding amount. Trade creditors are owed $59,000.

After the sale, Digisign & Print renamed itself Tin & Plastics Pty Ltd, which is the entity being liquidated.

Intersolutions Pty Ltd was registered in February 2012 but only signed up for GST on March 25 this year.

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.  

Sign up to the Sprinter newsletter