The administrators at one of Melbournes major large format print businesses, Magnify Media, has pulled the plug, with the company set for liquidation after racking up debts approaching $5m.
The business operated by well-known industry identity John Duplock has been under administration since Christmas Eve, with four parties showing interest in buying it, but no deal eventuating.
Magnify has known debts to unsecured creditors of $3.6m. Major creditors include the ATO, which is owed $1.23m, Billboard Media owed $528,000, Freight Focus Management owed $474,000, HP owed $234,000, and Celmac, which is owed $228,000.
In addition, Magnify owes $1.13m in unpaid priori…
Read the full article at: https://www.print21.com.au/sign-and-display/magnify-liquidated-with-5m-in-debts
