After 60 years of operation forme supplier Hygrade Group has shut its doors after going into voluntary administration, with 50 staff losing their jobs.
Hygrade was established in 1966 and was one of the country’s leading forme suppliers, with its operations in Melbourne and additional plants in Sydney and Wellington.
On June 15 the company submitted for document 505, a notification of appointment of administrator and on June 22 it lodged for a Declaration of Relevant Relationships and/or Indemnity Copy.
Rudi Jansen, CEO at Hygrade Group was unavailable for comment.
Jim Browne, Hygrade customer and production manager at Rolls Australia says he found out the company went into administration after trying to reorder product but was unable to get through.
“I tried to contact them to get a re-rule and they are now closed. One of their competitors says they went broke and one of my friends who works for another company has also said they are broke.
“No one has returned my calls. I did not see it coming, I did speak to one of the engineers and they saw it coming and said the company was in a bit of debt,” he says.
[Related: Pacific Printing closes down]
Browne says he has spoken to other suppliers who have also been caught off guard with Hygrade shutting down. He is now using Martin O’Brien as his company’s supplier.
David Raj Vasudevan and Andrew Reginald Yeo from Pitcher Partners are handling the administration.
Over the last 18 years, Hygrade has established an additional manufacturing plant in Melbourne, two manufacturing plants in Sydney and one in Wellington, New Zealand.
The company invested strongly, purchasing cutting edge technology including: seven lasers, three counter cutters, computerised rule benders and processors, half a dozen axis engraving machines, CNC Water Jet cutting machine and its latest acquisitions, a 2.5 kilowatt laser and a CNC router.
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.
Sign up to the Sprinter newsletter