Seven ‘hard offers’ received for Sands Print Group

Stirling Horne of Lawler Draper Dillon told ProPrint that he would be working through the offers in the next few weeks to ensure the best outcome for customers and staff.

“We’ve got some hard offers. What form the sale takes place is unclear, but it looks promising,” he said.

Horne said suitors could be interested in buying all or just some of Sands Print’s assets, which he described as its “extremely good” customer list, machinery, ongoing stock, work in progress and business name.

The Melbourne-based print company entered administration on 4 April. The business was then advertised in The Age and The Australian Financial Review and attracted 22 expressions of interest, according to Horne.

Superannuation payments had fallen two quarters behind by the time Sands Print entered administration, but Horne said all of that had now been paid. However, ProPrint could not reach the Australian Manufacturing Workers Union to confirm this.

All orders are still being completed and major suppliers are continuing to supply Sands Print, said Horne.

Staffing numbers have fallen from about 85-90 to 80, but those have been voluntary departures, he added.

Horne said there was no deadline on a potential sale and that all parties were “working towards trying to get a decent outcome”.

“We’re in a state of flux at the moment. We’re just moving forward and keeping things together as best as we can,” he said.

Sands Print managing director Mannie Stub did not return ProPrint‘s calls or emails.

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