Colour Graphics fades to black in voluntary liquidation

Pioneering wide-format Melbourne company closes its doors in the face of management defections and customer consolidation.

Liquidator PPB was unable to find a buyer for the Mulgrave-based company with the result that the workforce has been laid off. The high-end range of wide-format equipment is currently being offered in auction at Grays Online. A second creditors meeting is scheduled to take place after the auction.

Reports claim Colour Graphics’ business has suffered because of the departure of senior management resulting in a substantial decline in sales. Ultra-competitive pricing to win a large contract earlier in the year did not help. The company issued a statement indicating that it was not prepared to “invest in the level of technology needed to remain competitive.”

A move by major customers to develop in-house production capacity as well as structural shifts in the wider industry are also being identified as factors.

A former subsidiary, Colour Fabrics, was bought out 10 months ago by part-owner Denny Sebek. The Springvale-based company subsequently changed names to Bravo Print and is going strong, suffering no damage from the closure, according to Sebek.

Colour Graphics enjoyed iconic status in its time, pioneering the introduction of digital technology including the first five-metre wide Scitex digital printer in Australia in 1990. Ownership of the award winning company changed in recent years with David Osborn taking over.