Home' ProPrint : ProPrint September 2014 Contents www.proprint.com.au
4 ProPrint September 2014
PRINT BY NUMBERS
Debts at TPS Ventures thought to
top $500,000 as the company goes
Cash raised from the Focus Press
auctions as presses go cheap p6
Flying kangaroo to chop 40 per cent
from its marketing staff in switch to
Places availble to trainees and
managers under PIAA business
training schemes p12
The Lithographic Institute of
Australia celebrates half a century
Miniscule number of printers that
actually trust administrators p19
Number of colur pages per minute
on the new Konica Minolta bizhub
Press C1100 p28-29
New label presses that are digital
compared with flexo p40-42
$1m Worldwide Online franchise store in liquidation
Printer collapses after merger talks fail
by Nic White
Adelaide franchise store Worldwide
Online Flinders St, bought for a record
$1m in March 2012, is in liquidation.
Employees Jonathan Ban and Graeme
Mattner bought the Adelaide CBD busi-
ness from Chris and Jan Donovan, but less
than three years later the dream is over.
Liquidators at Macks Advisory say it is
too early to tell how much Rielstein Pty
Ltd, Ban and Mattner's holding company,
owes. Already Fuji Xerox has taken back
the financed kit and the remaining office
equipment will be sold at auction.
When asked what sent the business into
administration, Macks would only say 'a
Sources close to the company say the
problem was losing a $2.2m Tafe SA con-
tract to Reflex Printing last August. The
owners expected the contract would be
by Nic White
Sydney wide format printer TPS Venture is
in liquidation following a failed merger
attempt with larger rival The Printcentre
Liquidators at SV Partners say the com-
pany collapsed with debts of more than
$533,000 due to cashflow problems while
former director Kevin McClure was taking
some time off.
The debts include about $212,000 to
McClure, but none to The Printcentre.
The Printcentre director John Doyle says
as TPS had been operating out of borrowed
space at The Printcentre for some time, the
two companies were in talks to merge after
TPS ran into trouble. However, he and co-
director Darren Soppi decided not to go
ahead with the deal because they did not
think they could work with McClure.
Doyle says they then offered to buy out
TPS business from McClure and take care
of his creditors and employees, but
McClure abruptly put the company into
liquidation instead, leaving creditors and
employees out of pocket. "It's the worst
thing he could have done for the business,
himself and everyone else involved," Doyle
says. "We did not know he had done it until
the liquidator showed up at the door."
However, documents provided to
ProPrint by a third party show that if
McClure had accepted The Printcentre's
$110,000 buyout offer he would have been
contractually prevented from working in
the printing industry anywhere in
Australia for 30 months.
The draft documents show no mention
of The Princentre paying off TPS suppliers,
or employee superannuation -- but do
require it to hire all employees.
Doyle says he has managed to employ six
of TPS' nine staff at The Printcentre.
Industry sources say these conditions
were why McClure walked away from the
deal and put the business in liquidation.
They also say The Printcentre owes TPS
more than $500,000 and would get
$75,000 of outstanding invoices owed to
TPS, under the sale agreement.
McClure is now strategic operations
manager at wide format printer Magnify
Media. Doyle says "McClure now appears
to be going after our clients and those from
TPS" -- which would have been forbidden
under the sale agreement.
TPS and The Printcentre have had some-
what of a tangled web in Sydney with
Printcentre director Soppi previously
listed as 'director/owner' of billboard and
signage printer Brite Solutions, which col-
lapsed with debts of more than $2m in
2012. TPS then bought the Brite client list
for $11,000 and paid staff entitlements.
McClure also worked for Brite from
September 2009 to December 2010, but
after the August 2012 deal he stressed TPS
and Brite were 'totally separate entities'.
Go to proprint.com.au
for news as it happens
McClure, second from
left, at the 2012 TPS
Venture Christmas party
renewed but it was instead put up for open
The sources say the franchise made sev-
eral big equipment investments, mostly
from Fuji Xerox, to service the supposedly
20 million black and white and two million
colour prints contract, under the assump-
tion that it would continue.
While they attempted to downsize to
keep the business going over the next year,
the high fixed costs of both the equipment
leases and the vendor finance on the busi-
ness purchase eventually killed them.
The SA Government contracts were cru-
cial to the business, and were a significant
reason for the high sale price.
It is not known whether Worldwide will
take it over and try to re-franchise it as rival
Kwik Kopy plans to do with the two
Melbourne stores which sank in March.
Links Archive PP December 2013 ProPrint October 2014 Navigation Previous Page Next Page