Owner of liquidated print manager e2e opens new business

Michael Wallace has launched the "high-end creative print production" company, based in the Sydney suburb of Lane Cove, with the "full support" of e2e's suppliers, he claimed.

Wallace placed Chippendale-based e2e into voluntary liquidation last month, shutting down the $3m-turnover company after nearly 10 years in operation.

Wallace told ProPrint that transparency in setting up the new business had helped him retain the backing of all of e2e's major creditors bar one, as well as most of his customer base.

Asked whether he had considered exiting print after e2e's closure, Wallace said: "Absolutely not. The only way I'm going to make amends to people is doing what I do best."

"If I run away, my creditors are going to lose everything. I need to make sure the suppliers I dealt with are looked after, unlike some of the other companies that have gone down, and haven't made any effort to pay back anybody.

"That's disgusting, in my opinion. I just think that's wrong. We haven't done that," he added.

The e2e liquidation is being handled by Ferrier Hodgson, who could not be reached for comment. The liquidation is ongoing pending possible legal action by Wallace against a party involved in the collapse of the company. Wallace said he "hadn't done anything wrong to get to the point of liquidation".

It is unclear whether e2e's debts, alleged to be in the hundreds of thousands of dollars, have been resolved, with Wallace also choosing not to comment on the matter.  

He said he was essentially "starting over" with Princept, and reported that the company has already had "a good month" due to the ongoing support of his supplier base.

Wallace, whose 25 years in print has included tenures at companies such as Stream, said he is still "passionate about print".