Liquidators of Port Melbourne sign company Adherettes are seeking to sell the business as a going concern and a number of potential buyers have already expressed interest.
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| Adherettes, Port Melbourne VIC |
The family-owned corporate signage specialist went into voluntary liquidation last week after more than 40 years in business. The company remains open for business and about 50 staff members remain employed.
“The liquidators are seeking expression of interest for the sale of the company’s business as a going concern,” liquidator Andrew Yeo told Wide Format Online. “A number of expressions of interest have already been received by the liquidators. Any other interested parties should provide their expression of interest to James Beaumont (james.beaumont@pitcher.com.au) in the immediate future.”
Yeo and Gess Rambaldi of Pitcher Partners in Melbourne were appointed voluntary liquidators by Adherettes owner/director Mark Ernst on Thursday 14 November 2019.
Yeo says the business will remain open as the sale process continues. “Yes, the liquidators continue to trade the business. All staff remain employed by the company and business is ongoing."
Pitcher Partners is now compiling a list of creditors and assets.
“The liquidators are still undertaking this work although initial efforts have been directed towards the ongoing trading of the business and its proposed sale,” Yeo said. “The company provides high-end design, project management, manufacturing and installation of signage and branding requirements, be they bespoke, national rollout, wayfinding, architectural treatments or digital.
“No date for a creditors meeting has yet been set, but one will be held at some stage in the future.”
Adherettes, based in a 3700sqm facility in Port Melbourne, manufactures a variety of signage types from vinyl, banners, acrylic, metal, illuminated signs, sky signs, architectural signs, directional signs, vehicle markings, digital printing and braille signs. High profile clients include ANZ Bank, Medibank, Westfield, Myer and Telstra. Owner Mark Ernst is a prominent member of Melbourne's Jewish community, says the company website.
"Adherettes was established in 1956 and purchased by Philip Ernst in 1976 from its previous owners. From a small operation manufacturing only vinyl decals, Adherettes has developed into a successful, modern and diversified sign company which is a market leader."
