A series of companies including WA-based Euro Poles and All Flags Signs and Banners owned by Visual Connections board member Peter Wagener have entered liquidation.
A ‘Notice of Deemed Special Resolution to Wind Up a Company’ was issued yesterday for the following businesses: Wagener Holdings (trading as All-Signs, All Flags Signs and Banners, Pennant House, Photos on Glass, Dot Imagery, All Flags); All Signs WA; Double Trouble WA (trading as Euro Poles Textile Displays, Euro Poles and Flag Displays, LF Media; Pennant House; Vuteks WA (trading as Vuteks WA and Flexible Signage Solutions).
Wagener has told Sprinter: “This is not a ‘phoenix’ operation. Every creditor will receive 100 cents in the dollar.”
This statement was supplied to Sprinter titled: Navigating New Horizons – A Message from All Flags, Signs and Banners CEO, Peter Wagener:
“Dear Valued Customers and Industry Partners,
“It is with a heavy heart that we share this news regarding the recent developments at All Flags Signs and Banners, All Signs, Euro Poles, and Pennant House, Despite our initial optimism surrounding a potential solution and restructure, an unexpected turn of events late last night has compelled us to transition from voluntary administration to liquidation.
“Following our previous announcement detailing the challenges imposed by the WA border closure and the ongoing impact of the COVID-19 pandemic, our management team was actively pursuing solutions to secure the future of all companies, However, we received notification that the landlord of our commercial lease has terminated the agreement, leaving us with no choice but to take this regrettable step.
“The termination of our commercial lease has come as a severe blow, and it is with a heavy heart that we were forced into the difficult decision to move from voluntary administration to liquidation.
“Despite this setback, I want to assure our very loyal customers, and the Australian events and sports industry whom we have served for three decades, that we have re grouped and are starting again in early December, thanks to our very loyal staff and customers we are in a position now, to state we are restarting in early December and will be ensuring all our supplies will be paid in full. We are very conscious to make sure everything is legal, ethical and above board. We are committed to the industry, supporting it fully and working to developing new products also in the years ahead. Our staff are excited to be able to continue to serve our clients into the future. Please don’t hesitate to contact me if you have any questions.”
Administrators were appointed to the entities owned by Wagener on 27 September.
The initial creditors meeting was held on 5 October, with Jerome Mohen from RSM in Perth appointed as the administrator. A second meeting of creditors was held on 24 October followed by a resumed meeting of creditors on 14 November.
A veteran of the printing industry for over three decades, the Auckland-born Wagener describes Euro Poles and Textile Displays as an innovative display and events solutions supplier specialising in printed textile systems and hardware. Offering illuminated and non-illuminated solutions for indoor expo stands, outdoor solutions and creating a ‘wow’ factor.
“As the managing director and owner of All Flags Signs and Banners, I oversee the direction and general management of the company, looking after equipment acquisitions, new product development, sales strategies and ensuring our customers get what they want when they want it and are receiving great value for money in everything they get,” Wagener said.
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