On Demand gets three weeks

The administrator of collapsed On Demand has said that a second meeting of creditors will be held on Aug 26 to decide the future of the company, which has Michael Wu as its sole director.

On Demand was placed into administration on July 22, and since then has been run under licence by Docklands Ability Group, which is owned by Wu’s former business partners Moody and Abbey Aboughattas.

Half of the 50 staff lost their jobs as soon as the business went into administration, but most should be able to claim their entitlements through the Government’s Geer scheme.

According to administrator Michael Gollant the On Demand business owes ‘hundreds of thousands of dollars’ with around a dozen major creditors and three dozen minor ones. The big three paper merchants Spicers, BJ Ball and KW Doggett are all owed substantial sums, as are equipment suppliers Canon and HP.

Gollant says that Wu is helping him with his inquiries. Wu won a bidding race to buy On Demand last November, a month after it was placed into administration by founder and owner Bruce Peddelsden. The company was a digital pioneer, installing cutting edge print equipment including high volume inkjet webs.

Wu has has a woeful winter, in addition to the collapse of On Demand his association with the Aboughattas brothers and the mega merger Docklands Ability Group came to an abrupt end when they accused him of being less than forthcoming about the true state of the figures at his Ability Press. Wu’s Longbeach Printing, a digital print shop he bought from long-time owner Josh De Goot in January closed its doors in July only to reopen again a couple of weeks later.

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