Distressed Assets Media Centre
04 May 2010
Scott Printing in administration
Source: proprint.com.au
Sydney-based printing group Scott Printing has entered voluntary administration, though the director said he was confident of being able to return to trading.
Director Andrew Scott told ProPrint that Crouch Amirbeaggi was appointed administrators on 27 April.
The Scott Printing Group comprises Hippo Books, Centatime Publishing and Edgecliff Print, though the director said Edgecliff Print was not included in the administration.
Scott said the group was continuing to trade, and he expected them to do so into the future.
"We expect to trade through it. I don't really see an issue going forward, though it largely depends on what happens in the next week," he said.
Scott said he was aiming for a deed of company arrangement (DOCA), a proposition which would be put to creditors at the first creditors meeting this Thursday (6 May).
"The indications from financiers are that they are willing to support our financial circumstances going forward. We still feel the business is viable at current business levels," he added.
Scott blamed the situation on the economic downturn.
To view original article in full click here
BACK TO MEDIA
