Publishers Australia Under Administration
According to documents obtained by this office, industry trade association, Publishers Australia, has been placed into voluntary administration.
Whether the members have been informed is unclear, however Publishing Edge reported yesterday,
A lifeline being a $50,000 line of credit provided by Focal Attractions publishers of Mumbrella apparently could not arrest the problems faced by the industry body. Geoff Hird stepped down as long serving Chair replaced one month ago by Ash Hunter who released the following statement.
“After careful consideration and professional advice, the Board has made the decision to put Publishers Australia into voluntary administration. The company in recent years has not performed well financially and has residual debt. The appointment of the voluntary administrator will provide a mechanism to restructure the company and hopefully provide a stronger company into the future.
Prior to the appointment of the administrator, the Board entered into an agreement with Focal Attractions to prepare and hold the annual Excellence Awards which have been launched and are entirely unaffected by this process. The administrator is continuing to trade the business of the company and is working with Focal Attractions.”
ClarkeKann Lawyers have informed us that Mr. Michael Hird of Moore Stephens Accountants and Advisers was appointed as Voluntary Administrator of Publishers Australia on the 15th September. Mr. Hird’s relationship with ex-Chairman, Geoff Hird is unclear at this time.
More news will follow.