Swift Signs Adelaide into VA as Ramair seeks wind-up
Adelaide's Swift Signs is in voluntary administration, as supplier Ramair Packaging seeks a winding up order against an unpaid debt from the company.
Swift Signs in Adelaide has no connection with Swift Signs Melbourne.
The administrator is Trent MacMillan from MaC Insolvency. He has called for creditors to provide proof of debt by 5pm today. First creditors' meeting is scheduled for Tuesday 12.15pm SA time in MaC's Adelaide offices.
Swift Signs was established a decade ago by Luke Knight, who brought on board some of the city's leading sign specialists to build the business.
The company offered a full range of signage services including retail and shopfront, corporate design, real estate, vehicle wraps and a range of specialist sign services.
Swift continues to trade while it goes through the VA process. Last week the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, said she is launching an inquiry into the insolvency system to investigate if current insolvency practices achieve the best possible outcome for small and family businesses in financial trouble.
The inquiry comes as stats show that few small and family owned businesses successfully come through external administration.