It’s hardly a perfect solution for Samantha Rogers but the owner of long established Sydney print business, Perfectly Bound, Michael Smith has come to the rescue of some of the creditors of the failed Sydney print finishing business by buying the remaining equipment and business assets.
TLC Print Finishing is still in administration and unlikely to emerge, but according to Rogers, the deal is a good one for the industry. She maintains there is a lack of print finishing competition in Sydney and that the large printing companies are getting preferred treatment from some participants over small to medium size businesses.
“Although I won’t get a cent it’s a good outcome for the industry. All the money will go to paying off creditors, which has been my aim all along,” she said. “It’s not good for the big companies to have it all their own way and drive others out of the market.”
The deal brings to an untidy finish the saga of TLC although Rogers hopes to remain engaged with the industry. She says she will assist Smith in the transfer of the business and machinery out of the Silverwater premises.
"Michael has been very good about it and keeping some competition in the industry is good for everyone," she said.
Michael Smith of Print Bound did confirm the deal was made. He said TLC made a good fit for his business. We were unable to get further comment at time of going live.