Redback Finishing shuts up shop
Dec 10, 2008
Redback Finishing has closed its doors, after parent company Avon Graphics elected to withdraw its financial support.
Situated in the Melbourne suburb of Mt Waverly, Redback was founded just over three years ago, before entering into a management agreement with Avon earlier this year to enhance the range of services offered by Avon. Redback brought spot and full UV varnish, aqueous coating, as well as extra laminating, foiling and embossing opportunities to Avon. Avon, in turn, brought extra business to the Redback operation through its existing client base.
However, Avon managing director Trevor Hone (pictured) told ProPrint that his company had decided to pull out of Redback.
“We had meetings with them as directors, during the running of the business,” said Hone. “Redback had a reasonable list of clients, but it was never enough to sustain the business. When we first took it on they had been through a restructure but they still have not been able to make a go of it. When we acquired it we improved it, but just couldn’t get it over the line.”
“We advised them that we [Avon Graphics] were withdrawing and they needed to look at what they could do with the company. They decided they couldn’t do much. It needed more funding put in. We had put a significant amount of money in, which we will lose.”
“They have terminated the staff that were left. They decided that they just couldn’t run any more. They didn’t have the funds to do so.”
Redback director Paul Rushgrove was unavailable for comment at press time.
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