Empire Printing goes bust

Sydney print phoenix company goes up in flames again.

Receivers BDO Kendalls were appointed as liquidators to the Marrickville-based printing company on 6 February this year. Empire Printing employed a team of 20 staff. The receivers intend to sell the business as a going concern.

The liquidation is the latest chapter in the saga of Sydney industry identity, Frank Zafati, who was disqualified by ASIC last year. Zafati was banned from being a company director following an ASIC investigation into his role in four failed companies, Empire Printing Pty Ltd, ACN 095 910 357 Pty Ltd, Empire Creative Services Pty Ltd and Macpro Productions Pty Ltd.

ASIC’s investigation found that Zarfati engaged in ‘phoenix’ activity by transferring the business of Empire Printing Pty Ltd to three other companies for the purpose of defeating the claims of creditors, including the Australian taxation office. In addition, Zarfati failed to assist the liquidator of Empire Printing the first time.

 One industry source said that there were allegations many of the staff had not been paid their superannuation.

 “Things like this don’t do the printing industry any good,” said the source.