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Publishers Australia Enters Into Administration

17 Sep 2014

Publishers Australia, struggling with membership and financial pressures has entered voluntary administration. 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."

It is hoped the Association will be revived as our industry needs a champion for small to medium publishers especially in the B2B and Specialist publishing space. Further news will be reported through Publishing Edge as it comes to hand.

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