A multimillion-dollar printing business that has been operating for more than 20 years has collapsed into voluntary administration.
Sydney Allen Printers Pty Limited appointed external managers late last week but appears to still be trading.
John Morgan and Geoffrey Davis from BCR Advisory have been appointed joint voluntary administrators.
A creditors’ meeting is due to be held on April 19 in Parramatta, New South Wales.
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Sydney Allen Printers, which was founded in 1994, employs around 50 people.
The business specialises in sheet-fed printing, which is ideal for limited-edition books and small-to-medium print runs, and turns over around $14 million.
The company’s customer database is likely to fetch a good price if assets are sold off, according to trade press ProPrint.
SmartCompany contacted BCR Advisory but did not receive a response prior to publication.
SmartCompany has contacted Sydney Allen Printers for comment.