Mark Cooper from Frasers Advisory was appointed liquidator on 10 April. Cooper told creditors in a letter on 17 April that Spectrum director Stephen Durham had estimated the firm's debts at $115,000.
Cooper also told creditors that he was still trying to determine the reason for the failure of the St Leonards-based business.
Creditors may be presented with a different debt position at the first creditors meeting, which is scheduled for today. Cooper could not be reached for comment.
Durham declined to comment.
According to the creditors list, Vilensky Paper is owed $20,000, KW Doggett is owed $13,900, JL Lennard Graphics is owed $9,500 and McPherson Binding is owed $5,500. The Australian Taxation Office is also owed $22,700.
Unsecured creditors are unlikely to get any money back. Spectrum's sole assets are $2,000 of plant and machinery, according to Cooper. Liquidators fees have been estimated at $20,000.
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Vilensky director David Vilensky told ProPrint that while he didn't think it appropriate to comment on Spectrum, he agreed with recent calls from suppliers that the industry needed to look at tightening its credit policies.
Spectrum was founded in 1996 and had 11 staff. According to its website, it became carbon neutral in 2004, which may have been a first for an Australian printer.
"We were the first business in Australia to deploy waterless printing and computer-to-plate technology," it added.
The website suggests that Spectrum had an impressive fleet before it was liquidated.
"We have one of the largest digital print set-ups in New South Wales. Spectrum Printing has several high-volume black-and-white printers as well as two high-end Canon 7000 Image presses," it said.
"In the offset area Spectrum Printing has two five-colour Heidelberg presses and one Komori six-colour press. All this press power is complimented by a fully equipped bindery including diecutting, folding, cutting, drilling and booklet making."
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