The debts owed by Michael Wu’s collapsed digital print business On Demand are in the ‘hundreds of thousands’, according to its administrator Matthew Gollant of Rodgers Reidy.

Australian Printer spoke to Gollant who confirmed a lengthy list of creditors, and also says staff of the business are owed a significant amount of money.

“The business’s debts are in the hundreds of thousands and probably more. We are yet to get the paperwork about creditors’ claims but when we get all of that we will be able to tell people in more detail,” Gollant says.

“It has got maybe 10 large creditors and 30 to 40 smaller creditors, plus the employees of the business who are owed things like superannuation and long service leave.”

Gollant is aiming to sell the business, and confirmed On Demand is currently being run by Docklands Ability Group under a licensing agreement ‘for an interderminite period’. Around 25 staff have had their positions terminated, and with the other 25 still working in the business.

Rodgers Reidy is now urging interested parties to step forward and make an offer on the business. Gollant says, “We are happy to consider a proposal from any interested parties, the cards are now on the table.”

A creditors meeting will take place on August 3 at Rogers Reidy’s offices in Melbourne.

It is the second time in less than a year that On Demand – which claims to be Australia’s biggest digital printer – has been in administration. Wu bought it in November last year after Bruce Peddlesden placed it into administration in October.

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