Administrators take over at Paragon Printing

Hall Chadwick took over when the two companies went into voluntary administration on 5 March.

Richard Albarran, Blair Pleash and David Ross have been appointed as administrators, and “are continuing to trade the businesses of the companies at this stage with a view to maximising the chances of the companies continuing in existence”, according to Hall Chadwick.

The administrators said: “The objective of an administration is for an insolvent company to be administered in such a way that either maximises the chances of the company continuing in existence or if that is not possible, results in a better return for the company’s creditors and members than would result from an immediate winding up of the company.”

A creditor’s meeting will take place at Crossing Place Conference Centre, Lake Hume Resort, Riverina Highway, Albury, NSW on 16 March 2010 from 11am.

Paragon Printing employs 145 staff, while Moore Office has a further 12 employees.

The two companies were subsidiaries of the Moore Group, along with print management division Moore Business Solutions, which earlier this year broke off and listed on the ASX as part of a “backdoor listing” via a merger with Argus Solutions.

David Glavonjic, managing director of the print management arm, told ProPrint late last month that his company had sold off float vehicle Argus and would be looking to rebrand his company as Moore Business Solutions in the near future.

He had also added then that Paragon would remain as a key supplier to Moore’s print management business.

Note: Paragon Printers, based in Canberra, is not related to Paragon Printing, and is unaffected by the administration.

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