Above: Insane Signs and Print owners Sharon and Rodney James

Insane Signs & Print has confirmed it has purchased the Mesh Direct business from the company’s administrators.

Mesh Direct went into voluntary administration in April with a total debt of $1.92 million, including a debt of over $875,000 to the Australian Tax Office.

Rodney James from Insane Signs & Print, based at Cardiff near Newcastle on the New South Wales Central Coast, has confirmed the purchase of the company’s intellectual property, staff and property lease but has not disclosed any further details about the deal including the amount paid for the business.

James said that as a creditor to Mesh Direct, he and his wife Sharon made a decision to recoup some of the losses incurred following the business going into administration.

“It is our intention for the business to run as normal as much as possible. We have a number of staff who have not been working for a month – but I am pleased to say they are able to start work again,” James said.

Sprinter understands that the second creditors meeting that is scheduled to take place on Friday will proceed to provide an update on the financial affairs of the business for both secured and unsecured creditors.

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