The entire machinery and equipment line-up from collapsed Melbourne sheetfed printer and mailing house Print Dynamics will go on sale in a global online auction later this month.
The Mount Waverley-based business closed its doors and ceased trading in April - 17 years after being founded by co-owners Mark Shapiro and Anthony Saben.
The owners last month offered unsecured creditors - who are owed a total of $1.3 million - a take-it-or-leave-it, 10 cents-in-the-dollar settlement deal. The offer was conditional on all of those creditors agreeing to the terms. Print Dynamics has yet to confirm how many of the creditors have agreed but it's understood at least one unsecured creditor has turned down the offer.
The business also owes employee entitlements totalling $581,067.17. In a letter to unsecured creditors, the owners said employee benefits were regarded as 'a priority creditor,' ahead of trade suppliers.
Print Dynamics has now turned to online auction house GA Global Partners to sell off its entire plant – ‘everything, wall-to-wall.’
The global online auction will feature a 2008 Heidelberg 10-colour sheetfed press and a 2007 Komori 6-colour sheetfed press, as well as two Heidelberg cylinder presses, a Heidelberg saddle stitcher and Rima stacker, several computer to plate presses, seven folders, paper cutters and systems, a collator, three Epson large format printers and a range of other equipment.
GA Global says inspection of the Print Dynamics plant at Lionel Road, Mt Waverley, will be available on 28 and 29 June, between 9am-4pm, before the auction on 30 June.
For more information, telephone (61) 423 686 137 (for Australasian and Asian inquiries), and (USA) 00-1-(203) 313 8935 (for Americas and European inquiries).