Sydney-based digital print business CDM Print is being wound up after 35 years and administrators Wexted Advisory are preparing a sale of assets. CDM (Corporate Document Management) was founded by notable industry stalwart and former GASAA President Mike 'Jonesy' Jones and is a major Fuji Xerox customer. Confusion surrounds the trading status of the company as there was 'plenty of work.'
An ASIC notice says Corporate Documentation Management Pty Ltd, trading as CDM Print, was being wound up voluntarily. However, there is some confudion as sources say work was plentiful.
Rajiv Goyal and Andrew McCabe from Wexted Advisors have been appointed joint liquidators, and Wexted has now posted an “Assets for sale” announcement on its website. Messages to these people go unanswered:
“Rajiv Goyal and Andrew McCabe of Wexted Advisors as Voluntary Administrators of Corporate Documentation Management Pty Ltd (Administrators Appointed)(CDM Print) are seeking Expressions of Interest (EOIs) for the assets and business of the company.
The business and investment highlights include:
Annual revenue of ~$2M (FY22).
Premium digital print technology
Integrated DMS and CRM systems.
Established customer-base.
Leased premises at Rosebery NSW.
EOIs closed on Thursday, 22 September 2022, but it is believed expressions of interest can still be considered via email to clewis@wexted.com
UPDATE
All of CDM Print assets are now being auctioned off online by O'Mara's, in association with Grays.com, on THIS LINK. Bids close on 25th October at 8:30pm AEDT. Inspection of assets is at Rosebery NSW site on Monday 24th October 9am to 12 noon.
