Mercury falls into hands of administrators

Mercury Print, a long established and well-respected company that has operated out of Melbourne for over 20 years under the ownership of Roger Bryant, has voluntarily appointed Draper Dillon as its administrator. The commercial printer will continue to trade until decisions are reached on the future of the business.

At a creditors meeting in Melbourne yesterday, the administrator revealed that a strong offer had been made for the company. He claimed the offer was 80 per cent backed by an equipment supplier, “not Fuji Xerox”, but refused to identify the mystery backer.

In a quick check with digital printing equipment suppliers, Print 21 drew a blank from HP Indigo, Canon and Océ.

Hugh Milne, senior manager at Draper Dillon, confirms Mercury Print had experienced some financial issues in the leadup to it putting a call through to the administrators.

“The director of Mercury Print had recognised the difficulties that were being faced by the company, and had decided to pursue one of several options: an equity injection, a business merger or a sale,” says Milne.

Milne claims Draper Dillon has fielded a large amount of interest from parties in the graphic arts industry, enthused over a possible purchase of Mercury Print. He confirms a decision will be made within a week as to whether the business will be placed on the market for sale.

A second report is due for creditors on March 17 on the financial status of Mercury Print, with the second creditor meeting scheduled by Draper Dillon to take place March 28.