Moore Office sold, as Paragon attracts interest

Administrators Hall Chadwick released a statement last night confirming that the assets of Moore Office had been acquired by USQ Investments and WCP Supplies last Thursday (1 April).

“I advise that USQ Investments Pty Ltd acquired the business and assets of the Company [Moore Office] in Brisbane with the balance being acquired by WCP Supplies Pty Ltd,” administrators said.

“Both the above stated entities trade as ‘Penfold by Office Choice’ and will continue to trade the respective entities with the same employees,” the statement continued.

Moore Office has continued trading since entering administration on 5 March along with Paragon Printing.

There are reports that a buyout of Paragon is looming. Victorian printer Ducor confirmed to ProPrint that it had expressed interest in buying the stricken forms printer.

Ducor general manager of sales and marketing Lisa Stark said: “We, like many companies, are having a look at Paragon, but we have nothing else to report at this stage.”

Another company believed to be interested in Paragon is UK-based security printing specialist Magna Data, which has a local sales and manufacturing presence in Sydney.

Magna Data have refused to comment on the discussions.

Meanwhile, the Australian Manufacturing Workers Union (AMWU) has reported that there has been an improvement in the situation of Paragon workers, with now only 13 members still waiting to be rostered back on.

The majority of Paragon’s staff returned to work last Monday following a two-week stand-down, after Hall Chadwick and major customer Moore Business Solutions reached an agreement to keep the printer afloat while administrators looked for a buyer.

AMWU local representative Leigh Diehm told ProPrint that administrators were planning to meet with Paragon employees later this week to update them on the sale process.

David Glavonjic, managing director of Moore Business Solutions, told ProPrint that he is “confident” there is going to be a buyer for Paragon, and that he was “delighted with how things are progressing”.

“I’ve got access to my warehouse again, so I’m feeling pretty good about it all,” he said.

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