Hymans will hold an auction on the former SPH site in South Strathfield next Wednesday (27 October).
Going under the hammer are a secondhand five-colour Heidelberg Speedmaster SM 74 and four-colour Speedmaster, an Epson Stylus Pro 9900 wide-format printer, and a range of finishing equipment.
A full list of the equipment for sale can be found here.
SPH also operated a 10-colour Speedmaster, supplied to the site’s past owners, Planned Print, by secondhand dealer ASI Australia around three years ago and since taken over by PKF.
It is believed that SPH was renting this press and the site from PKF and that St George remains the owner of the 10-colour.
SPH entered voluntary liquidation with SV Partners on 16 September, following a protracted dispute with PKF over the company’s South Strathfield premises.
Liquidator Stephen Hathway from SV Partners told ProPrint that it is still early to definitively conclude what caused the company to fold.
“Right now we’re just concentrating on getting all the assets in, and then we can turn our mind to investigations into the company,” he said.
Hathway added that the capital raised from the auction would be used to pay the debts of secured creditors, followed by SPH employees.
“By that time, we don’t believe there’ll be significant monies left over to pay unsecured creditors,” he said.
Hathway encouraged SPH employees to put their claims in, even though some employees have expressed doubt to ProPrint that there would be any money left to pay out their entitlements.
Hathway also emphasised the importance of companies seeking assistance before entering insolvency.
“As soon as companies think they’ve got a problem, they should be trying to act on that,” he said.
“We don’t always just drag them out and sell them off. We can save businesses.”
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