Vic printer swallowed by debt

Dandenong South based digital printer Pax Printers has collapsed into liquidation under mounting debt owed by the business.

The 35 year old printer was taken over by new owners in recent years and according to LinkedIn, is currently headed up by managing director Alan Stewart. It provides digital, offset and large format printing services to the Dandenong South area.

Liquidator Jason Glenn Stone from accountancy firm PKF Melbourne was appointed yesterday and told Australian Printer he is currently determining what can be done for the business.

“Pax Printers is in liquidation because it was not in a position to meet all of its debts,” Stone says. “We are presently entertaining the possibility of selling the business.”

Stone could not confirm how much money it owes but says the business is currently trading, which he expects to continue for the next couple of weeks until a resolution is found.

He says there are two likely outcomes for the business, either its client list is purchased by another printer or the business is purchased as a whole.

“Basically there is a long standing customer list that we are looking to deal with,” Stone says. “We are happy to sell it as a complete business, but the likelihood is that the customer list is what will be sold to another printer.”   

Pax Printers has small workforce of two people, Stone advises there is a possibility they will be employed elsewhere. 

A creditors meeting has been scheduled for July 29.  Any printers interested in purchasing the business or its client list are advised to contact PKF Melbourne. 

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at [email protected]  

Sign up to the Sprinter newsletter

One thought on “Vic printer swallowed by debt

  1. Really sorry to hear this, as Alan and his wife are lovely and generous people. All the best to you two, you really deserve some luck!

Leave a comment:

Your email address will not be published. All fields are required

Advertisement

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.
  • This field is for validation purposes and should be left unchanged.
Advertisement