End of an era

A few years ago I worked for a company called POL Publications, which had a stable of good looking magazines and lovely staff but a horrible financial position. I owe POL a lot - because it was such a disorganised place I had to learn things pretty quickly if I wanted anything done.

Also, working there has left me with a nice network of ex-colleagues because the turnover was so high! I wouldn't be working where I am now without having worked at POL with Camille (ex-editor) all those years ago.

Anyway, in late 2004 the company went into administration and came out wobbly but solvent. I left shortly after, having decided that the world of businesswomen's lifestyles and shopping wasn't for me. Last month, however, the liquidators finally got them.

Here's an article by Rebecca Urban that appeared in The Australian:

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PUBLISHING identity Peter Berman managed to survive the collapse of Ansett, which cost his company an in-flight magazine deal and forced him to retrench 24 staff. But recent economic conditions have proven much more difficult, with several companies linked to Berman's Pol Publishing empire placed into administration in recent days.

Pol Equipment, Pol Interactive, a company formerly known as Pol Contract Publications, and Hovea Holdings have each had Grant Thornton appointed external administrators and PPB as receiver and manager. ANZ has registered charges over each company.

The collapse comes after Pol Publishing recently lost the rights to publish three magazines on behalf of shopping centre owner Colonial First State Property Management. The magazines, The Chase, Fashion Capital and QP had a combined circulation of 210,000 and are now being handled by Fairfax Media.

Also placed into administration was Berman's Mandarina Duck, which has the exclusive local rights to distribute the Italian luxury goods brand by the same name.

Rumour has it that ANZ also has Berman's Harry Seidler-designed home in the NSW's Southern Highlands in its sights. A Bowral real estate agent has the award-winning property, known as Berman House, listed for sale at $5.75 million.
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Sad in some ways, but inevitable considering the mess their accounts were in. A lot of the freelance community are pissed off because they haven't been paid for several months, but I especially feel for the employees who were left without their pay for the final month they worked there.

My current boss, who has his roots in the printing industry, says this is not the first time Berman has pulled this trick, leaving printers in the lurch by several hundreds of thousands of dollars. No one will print for him any more, apparently. (That may be why by the end of my time there we were printing in Hong Kong and not paying their bills to the freight company).

Yeah, Peter was pretty dodgy in both his personal and professional life but I do miss the others who I worked with, some of whom were still there until the recent end.

Cheers to the end of an era.