Unsecured Reactiv creditors owed $2m
Unsecured creditors of collapsed Sydney print business Reactiv are owed $2m, and have no hope of seeing any of their money.
Secured creditors are owed $730,000, with assets of the business which went down in August only valued at $88,000, according to PKF liquidator Bradley Tonks.
Reactiv had been struggling over the four years since owner Kingsley Moore bought out failed Impress Printers in Rydalmere and renamed it.
Moore was the sales manager at Impress before it went down in September 2015. He then bought the business, but inherited the issues that caused Impress to collapse. A heart attack last year and a broken leg this year further hindered business growth.
Mark Shergill's Focus Press bought the customer list and most of the equipment, and brought over half a dozen of the 20 staff.