CMYKhub is simultaneously bolstering its presence in the Western Australia market and snatching a WA print house from the clutches of financial collapse, purchasing the colour goodwill of Carlisle-based trade printer Top Print.
According to CMYKhub, Top Print was hit by bad debt of over A$100,000 from a business in Sydney that failed and, according to sources, set up shop again the following week under a similar name.
This bad debt forced Top Print to resize the business and sell assets to ensure it could pay its creditors. Now, with CMYKhub purchasing the goodwill of the colour company, the business will continue to operate in a downsized trade only capacity under the banner of CMYKhub.
According to Clive Denholm (pictured), CMYKhub founder, the opportunity to help Top Print out of a tight spot came as CMYKhub needed to upsize its offering in WA. “We had a lot of pressure from customers to be able to offer the same products we sell on the eastern seaboard,” he said.
Denholm said he has known the Top Print management for over ten years and has a lot of respect for the owners. “Our relationship has made it possible to achieve a good outcome from a bad situation,” he said.
Now that CMYKhub is expanding its existing operation in WA with the Top Print deal, the reception to the increased facilities in WA has been reportedly well received by the existing customer base. CMYKhub is set to hold a series of seminars in Perth to demonstrate its free Web2Print (W2P) and online ordering software.
Peter and Merrilyn Watt, part owners of Top Print, will continue to operate the downsized business, focusing on printing NCR and PMS work.
“From what was a very difficult situation, we have managed to get an outcome that will look after the interests of all concerned including our customers and creditors,”said Merrilyn. “We are really thankful that we can introduce our customers to one of the best trade printing systems in Australia and that the deal with CMYKhub has helped us have a business going forward.”