DPA enters liquidation under $5m debt

DPA appointed liquidators Cor Cordis on 31 August following the acquisition of its assets – including staff, equipment and client lists – by fellow Melbourne printer On Demand Printing.

The creditors list shows debts totalling over $5m, including $921,000 owed to the Australian Taxation Office, as well as a $656,000 debt to Fuji Xerox Australia.

Alan Ferguson from ASF Printing, which is listed as being owed over $176,000, said he was “pretty disappointed” with DPA’s directors.

Ferguson said ASF had worked with DPA since 2007, but that he began distancing his company earlier this year when it became clear DPA was in financial trouble.

Ferguson said he’d received assurances from DPA directors that his debts would be realised. “I haven’t got any written guarantees, I’ve only got verbal guarantees that the bill would be paid.”

Rob Nugent, commercial manager at Vega Press, which is listed as being owed over $70,000, told ProPrint his company had also been given “verbal guarantees” by DPA directors that debts would be repaid.

“They basically threw themselves at our mercy seeking assistance to trade through it all,” said Nugent.

On Demand owner Bruce Peddlesden told ProPrint that the acquisition of DPA was unaffected by the liquidation.

“We purchased only the business assets, we didn’t buy the company,” he said.

“We negotiated in good faith with the directors of that company and bought the assets at arm’s length.”

Peddlesden said his company had twice looked at acquiring DPA over the last few years, and had walked away on both occasions.

He confirmed that On Demand had opened accounts with most of DPA’s creditors, including ASF Printing.

Cor Cordis refused to comment on the liquidation.

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