Industry reports that Starleaton has recently re-commenced trading as Starleaton Pty Ltd, using the same website and branding of the business that was recently placed into liquidation. are likely to be met with a mixed reception with many employers, suppliers and even customers presumably still significantly impacted by the crash of the company earlier this year.
Starleaton's former premises at a time when the sky was a lot more clear for the beleaguered print company
Now operating out of offices in Artarmon – a stone’s throw away from the St Leonards premises where Ben Eaton previously ran the business from – Melissa Spooner (nee Eaton) is reported to be fronting the re-birth of the company.
In the initial administrator’s report dated 15 February 2024, Andrew Blundell and Simon Cathro identified a complex corporate and related party ownership and funding structure of the Starleaton Group, summarising the complexities in its report as: ‘At the current time, we understand:
- The Starleaton Group is controlled by three siblings in the Eaton family – Benjamin Eaton, Joshua Eaton and Melissa Spooner – who control the shareholdings of SDS Bidco through intermediary companies.
- SDS Bidco is the trustee of the SDS Trust. It was appointed to this role in 2019.
- SDS Bidco holds all the shares in Starleaton Holdings – which is the trading entity.
- SDS Bidco also holds the shares in Starleaton NZ, which we are not appointed to, and currently continues to operate in New Zealand whilst we investigate the position in respect of loans to Starleaton Holdings and shareholdings of SBS Bidco.
- We are still determining whether the shareholdings in Starleaton Holdings and Starleaton NZ are beneficially owned by SDS Bidco or whether it is in the capacity as trustee of the SDS Trust.
- The former trustee of the SDS Trust was SDS Distributions. SDS Distributions holds a registered security interest over the Companies. We are still investigating whether this is in relation to SDS Trust.
- The Starleaton group owes over $6m to Peter and Leanne Eaton (parents of the directors) and other related entities, including Starleaton Pty Limited. Peter Eaton is the father of the directors and used to own the Starleaton Group. These parties hold a registered ALLPAP security interest over the Companies.
We understand this relates to the sale of the business to the current owners in 2016. This debt was not recorded in the balance sheet and statutory accounts of Starleaton Holdings prior to FY2023 and we have requested more information to understand this secured debt.”
