Liquidators for collapsed printer Rotary Offset Press have called a creditors meeting for the end of this month, as payments of debt owed remains doubtful.

The company handling Rotary’s liquidation Cor Cordis Chartered Accountants has confirmed all relevant secure creditors have been notified and will attend the March 29 meeting.

The liquidator was not able to confirm what companies were on the creditors list, nor what, if any, of the debts will be paid back. Cor Cordis states they are 'still assessing the relationship between the companies and creditors'.

Grahame Ward from Cor Cordis says the anticipated outcome of the meeting is ‘expected liquidation’, confirming doubts Rotary will struggle to ever recover from its losses.

[Related: Rotary declares insolvency]

Printers are starting to gear up for a fire-sale of Rotary and its partner business Halagraphic’s assets, however the possibility of an auction is yet to be verified by Dominion Group, who is looking after the assets.

Both Rotary and Halagraphics were owned by Robert John Tarasov, a second generation printer who took over the business from his father, Stan.

Rotary ceased trading on March 11 due to what the liquidator describes as ‘industry transitional issues’ and several jobs lost to print giants PMP and Blue Star.

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