Liquidators from Grant Thornton have begun the process of winding up failed Melbourne printer The Printcentre Group to see what can be salvaged for creditors.
An ASIC noticed post on Wednesday confirmed that the large format specialist had gone into liquidation after "a general meeting of members" held on Monday.
Notice is given that at a general meeting of the members of the Company held on 15 August 2016, it was resolved that the Company be wound up and that Stephen Dixon and Ahmed Bise be appointed liquidator(s).
Staff members turned up to work on Monday morning to find themselves locked out of the building. They've been forced to seek compensation for owed pay and entitlements through the Fair Entitlements Guarantee.
"The directors didn't turn up on Friday and the administrators arrived on Monday morning and locked the doors," an insider told Print21. "They've struggled lately and have gone into liquidation. They have a staff of about 15 or 20 and it has come as a complete shock to them."
Owners John Doyle and Darren Soppi have yet to comment.
The Printcentre expanded into Sydney in 2014, opening a new flatbed and wide format facility at Rosebery, but then shut down the operation the following year to concentrate on the Melbourne business - originally based in Port Melbourne before a shift to the new location at 112-118 North View Drive, Sunshine West.
The date of the first creditors meeting is expected to announced shortly.