Well-known Sydney printing icon, Sydney Allen, is listed on the ASIC website as being in receivership. There is no official confirmation from the company at Condell Park where as of midday Friday the directors remain closeted in meetings.
Administrators as well as receivers have been appointed and the company is still trading as of Friday afternoon.
The posting on ASIC follows weeks of speculation that the company was running into difficulties. Richard Alabarran, Hall Chadwick, is listed as the receiver manager, while David Cocker, BCR Advisory, is the administrator.
Industry veteran, Bob McMillan was reported to be involved in the revamped company along with director John Mangos and Chris Wallace.
Lee Barnsley, once executive GM of McMillan Print Group before it was sold to Blue Star in 2007, was reportedly at the helm of the relocated business.
More on this story as it happens.