Bahri Aldatmaz, director, Printmode confirmed to Australian Printer the company is in serious debt. Dye and Co chartered accountants will hold a creditors meeting on September 27.

Roger Grant and Nicholas Giasoumi from Dye and Co were unavailable to comment. However they have said in a letter to creditors that the company has insufficient assets to repay its unsecured creditors.

The 20 year old printer owes around $150,000 to its employees, with the tax office the biggest creditor, it is owed some $250,000. Amongst the companies owed money are Alliance Equipment Finance which is owed $164,000, Fuji Xerox owed $71,000, and Print T Mail, which is owed $85,000.

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