Gopher Graphics gear up for sale

Gopher Graphics gear up for sale
Liquidator says ‘not a phoenix’ though director has expressed interest in making a bid on some kit

Gopher Graphics Communications is having its kit auctioned off, following the company being placed into liquidation.

The company had seven employees prior to the liquidation, according to liquidator Cor Cordis, with all being notified of their termination and the state of the business once the liquidators had entered the building.

Andre Lakomy, liquidator, Cor Cordis, explains, “I was appointed liquidator as the company had cash flow issues, and the director took the steps to get an independent party involved.

“We are trying to realise the assets for creditors, there may be equity in the plant equipment.

“We have also advertised the business for sale, to see if anyone is happy to attribute value to the business itself, which includes the client list, and intellectual property.”

Among the items up for auction are a Roland VersaUV 64” flatbed, Epson SureColor P20070, Oki Pro 9431 with envelope feeder, along with vinyl cutters, conveyors, shrink wrapping machines, and multiple Apple computers.

Australian Printer asked Lakomy if the director Ed Jones had any plans on buying the equipment and restarting the business, considering he had previously placed a business called Gopher Graphics in liquidation in 2014, but not before registering Gopher Graphic Communications in 2013, the business which has now been placed in liquidation.

Lakomy says, “The director has expressed interest with respect to certain assets, but we have to go through a process.

“As far as we are concerned, there is no phoenix at all. A phoenix is a situation where a director strips assets in the company, and leaves creditors in the old company.

“We were not involved in the original liquidation, so can not comment on it.”

The liquidator says the employees are a priority, and that they are arranging applications with the FEG, or Financial Entitlements Guarantee. It is a federal government legislative safety net, where employees of a liquidated business can apply for up to 13 weeks of unpaid wages, annual leave, redundancy, long service leave, and payment in lieu of notice.

Lakomy explains, “We have terminated the staff, and are calculating employee entitlements.

“The priority for us is the employees. We quickly got hold of the books and records, and the FEGS scheme applies here.”

As for why Gopher Graphics entered liquidation, Lakomy says it is too early in the process to tell, and that, “We have to do our report, which goes back to ASIC, including the history of the company. 

“That has to be completed within six months from our appointment.

“Less than $1m is owed within the business. We do not know what will come out of the woodwork, we hold creditor meetings and get them to let us know.

“We have sent out a creditors report, but have not held a meeting yet. We have relied on the company’s books and records to determine who was a creditor. That was done within the first 10 days of the appointment.

“The first creditors report does not give a lot of information, the second report, which is due within the first three months is a more detailed investigation.

“Those interested in purchasing assets can contact either us or Greys. It is an unfortunate situation, but an opportunity for people to pick up assets.

“We see it as frustrating where businesses leave it for the last minute to seek advice. The earlier people seek advice, the more options are available. If people have a sense that the business has a hiccup, it is important that they seek advice as early as possible. We are happy for people to call us to talk about an experience they are having. We are an advisory house, we do not only do the formal insolvency stuff.

“The earlier you jump on something, the more options are available.”

The auction is being arranged through GraysOnline, with potential buyers able to place bids from Thursday, the full list of equipment can be seen here.

Source: Australian Printer

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