The company formally entered liquidation at a meeting of creditors last Monday (26 July) after company directors elected not to proceed with a deed of company arrangement (DOCA) devised by insolvency firm Crouch Amirbeaggi.

Administrator Nicholas Crouch told ProPrint he was “a bit confused” as to why directors elected not to proceed with the DOCA, which would have seen the company continue to trade and unsecured creditors paid 20c in the dollar after a number of years.

“We restructured them, put them back on the road, and then they pulled themselves back off the road,” he said.

“We put together a rescue plan and did everything we could. But a month later they decided they didn’t want to do it.”

Scott Printing entered voluntary administration with Crouch Amirbeaggi on 27 April. Administrators and company director Andrew Scott had told ProPrint that they expected the company to return to normal trading with a DOCA.

Shamir Amirbeaggi has been appointed to head up the liquidation process, which will see the company’s site and equipment sold at auction. The proceeds will then go towards secured creditor Commonwealth Bank.

Company director Andrew Scott could not be reached for comment.

The Scott Printing Group comprises Hippo Books, Centatime Publishing and Edgecliff Print, though Edgecliff Print is believed to be unaffected by the liquidation.

Hippo Books produces paperback books, while Centatime Publishing specialises in colour and B&W manuals, brochures and catalogues.

Note: Scott Printing is unrelated to Perth-based company Scott Print.

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