Fuji Xerox has made the decision to liquidate a number of its locally registered businesses in an attempt to “maintain efficient and cost-effective business administration” of its companies in Australia.
The company has registered Fuji Xerox (Sales) Pty. Limited (ACN 001 419 790), Fuji Xerox Australia BPO Pty Limited (ACN 092 872 501), Fuji Xerox BPO Pty Limited (ACN 105 017 481), Enhanced Processing Technologies Pty Ltd (ACN 103 188 478), Bluechip Business Consulting Pty Ltd (ACN 122 438 975), Upstream Print Solutions Australia Pty Ltd (ACN 137 943 849) and Upstream Print Solutions Holdings Pty Ltd (ACN 137 235 879) for external administration with the Australian Securities and Investments Commission (ASIC).
Fuji Xerox confirmed the move in a statement, saying that the companies have been placed into liquidation as they were dormant business entities.
This means that there are now four operational Fuji Xerox entities remaining in Australia, including: Fuji Xerox Australia Pty Ltd, Fuji Xerox Finance Limited, Upstream Solutions Pty Ltd, and Upstream Finance Pty Ltd.
“In order to maintain efficient and cost-effective business administration of our companies in Australia, we assessed our registered entities, and decided to liquidate some of them. [These] entities have been placed into liquidation as of 31st July 2020,” the company statement read.
“These companies were dormant companies and do not relate to the sales or operations of Fuji Xerox Australia (FXA), Upstream or related finance companies.”
Fuji Xerox recently announced that it is set to change its business name to Fujifilm Business Innovation Corp next year, following the end of the former’s technology agreement with Xerox Corporation.
The company’s subsidiary Fuji Xerox Asia Pacific Pte Ltd also recently completed a $140 million acquisition of Melbourne-based IT services provider CSG Limited, which was approved by ASIC and enables the business to diversify into the SMB market beyond its traditional roots in the larger corporate sector.
In addition, Fuji Xerox Australia confirmed in May that it is taking its former managing director Neil Whittaker and former chief financial officer Devlin Bell to court three years after $450 million in accounting irregularities in both Australia and New Zealand were identified.
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