The holding company associated with Sydney printer Gopher Graphics is in liquidation with debts of almost $300,000, but the printing business continues to operate regardless.

The company, innocuously registered as ACN 062 895 774 Pty Ltd, stopped trading in March and called in liquidators SV Partners last month, who now say there are no realisable assets to help pay creditors.

The Gopher Graphics website and Facebook page are still operational with its cover page updated on July 27 promoting promotional and marketing products for Father’s Day. When contacted by ProPrint, director Ed Jones refused to comment.

[Related: More companies in distress]

The ASIC database shows the business name Gopher Graphics was registered in Hurslton Park, at the same address where the printer is based, on July 9, with other instances of the name in the process of being deregistered.

According to the creditors report, the biggest creditor is the Australian Taxation Office, owed $116,088, with Future Sources, SOS Print & Media and Elders Print Services also owed significant amounts.

In their statement to creditors, the liquidators say the company was driven under by the competitive nature of the printing industry.

“The director has advised that a downturn in the printing industry combined with discounted pricing offered by competitors led to the company having insufficient funds to meet its tax and other liabilities,” they wrote.

The liquidators are investigating whether assets of the business were sold before liquidation, to whom and whether they were at a fair market value, and are tracking down company records to compile a report for ASIC.

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