Liquidators take over four Ovato entities
Troubled printer, Ovato, now has an extra $40 million in the kitty to help it realise its plans to boost its data capabilities in 2021
13 January, 2021Posts Tagged: Ovato
Ovato employees prepare for end of an era
For hundreds of staff at Ovato’s Clayton plant, the coming weeks will mark an end of an era with the factory set to close providing final court approval is granted on December 18
10 December, 2020Creditors approve Ovato 50 cent pay deal
Another hurdle in Ovato’s legal bid to restructure and recapitalise has been passed with all creditors agreeing to a 50 cent in the dollar pay deal for outstanding bills
7 December, 2020First leg of Ovato’s survival plan gains court approval
A plan to shore up the future sustainability of one of Australia’s largest printers, but at the same time cost 300 jobs, has been approved in the NSW Supreme Court with creditors and members next to give it the nod
19 November, 2020
Fury as Ovato sends 300 staff to government for pay-out
As the details of Ovato’s survival plan sink in across the printing industry, the Australian Manufacturing Workers Union has expressed shock that taxpayers will foot the redundancy bill for 300 staff
17 November, 2020
Ovato restructures to ward off insolvency; Melbourne site to close and 300 jobs to go
Announces plans for a $40m rights issue and restructure which will see the Melbourne plant at Clayton shut and 300 jobs lost as it fights to save 900 jobs and ensure that it returns to a viable and profitable future
12 November, 2020
Bauer (now Are Media) to trial magazine sales with Australia Post and Aldi
The company has a number of diversification plans and opportunities in the pipeline to further optimise its print media, following its rebrand from Bauer Media to Are Media
5 October, 2020Ovato suffers $108.8m loss as COVID-19 ravages bottom line
One of Australia’s largest heatset printing, integrated marketing and distribution businesses is needing to restructure to better align declining revenues with its fixed cost base as the COVID-19 pandemic wears on
30 August, 2020Ovato looks to shed up to 300 jobs as pandemic bites
Ovato CEO Kevin Slaven says the company is working hard to minimise job losses, but the impact of COVID-19 is massive and changes are needed to ensure viability
4 August, 2020Bauer Media Australia axes eight titles
Closes eight brands as a result of the impact of COVID-19 after temporarily pausing their publication in May
23 July, 2020
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