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Queensland print company equipment sell off on April 16 24Mar05

In a Print21 (print21@bluelinemedia.com.au) online story on 24 March, we learn that Impress Media Group falls into administration after losing the battle with financial difficulties. Its equipment will be auctioned off in Brisbane in April. A multi-million dollar sell off of the company's equipment will be taking place in Brisbane on Saturday the 16th of April, at 172 Evans Road in Salisbury. Some of the equipment to be auctioned off includes Shinohara and Ryobi presses, a HP digital press as well as collators, binders and other associated equipment. Visit www.strophairs.com for more details.

Apparently, Impress Media Group is a well-known production printing business that made its reputation in general offset and digital printing. It also provided design and prepress services to its clients. The company has been servicing southeast Queensland for over a decade, with a workforce of 12 full-time employees and a turnover at its peak of approximately Aus$ 3 million (Indian Rupees 20.3 crore) per year.

According to Print21, a director of Impress Media Group indicated that a failed buyout and the stalling of plans for a potential merger contributed to the decision to close the company’s doors, as well as other financial difficulties experienced by the business over the past two years.