Steven Gladman, administrator at Hall Chadwick told Australian Printer that Greenloch owed ‘significant amounts’ of money to creditors, and Hall Chadwick would take control of the printer for a five week period.

Gladman outlined that the fate of the 30 year old Greenloch would be decided within the next few weeks, a fate which could include liquidation or a deed of company arrangement – an option to implement a strategy in order to return the business to profitable trading – however following meetings with company directors he says it’s likely the company will be liquidated.

He says, “While I’m not a printing expert and I can’t comment on the quality of the equipment, there is definitely a business there but it needs some modifications in order to make it profitable. Whether or not it comes on the market will be decided in the next few weeks.”

Greenloch company chairman Tom Szabo declined to comment, beyond confirming to Australian Printer that the administrators had been called in.

The likely demise of Greenloch comes despite it ordering equipment during PacPrint in May, which set to have been installed at its Matraville facility by now.

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