Posh Printing into admin

Posh Printing Castlereagh St in Sydney’s CBD, is now under voluntary administration, following the company’s other store in Pitt Street going into liquidation eight weeks ago.

The Castlereagh centre is still trading, with a creditors meeting to take place next week, on July 24. Worrells Solvency & Forensic Accountants is handling the company’s administration.

ProPrint has contacted owner Garry Jack for comment but was not able to reach him. Jack operates the business from Qld and owned both businesses.

The company has been operating since the 1980s and offers design, print and copying services including wide format, plan prints, business cards, brochures and stationery along with binding and finishing.

A liquidator for the Pitt St centre with Woodgate & Co says the two centres are connected, but separate entities, with different directors.

[Related: Picton owes $9m, battle for survival]

Giles Woodgate, who handled the liquidation for the Pitt St centre says, “We are still conducting our investigations. There was a winding up order from the deputy of the tax office, it can be assumed there are outstanding tax debts.

“The printing industry is under pressures, with there being new electric technology available. Print is still in demand but not in the same way it used to be.

“The business was closed when we were appointed. There was an auction where all of the equipment was sold off.

“The company had around half a dozen staff. The employees will be receiving sufficient funds in the winding up, and will receive all of their entitlements under the FEG scheme.

“The owner was cooperative but I think he had his own personal issues.”

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