Administrator Graham Wolloff, of Elwell Watchorn & Saxton, said 36 now staff remain at the business. He added that there has been a very healthy level of interest so far.

The £3.5m-turnover company went into administration on 1 September, following an unsustainable revenues due to what it claimed was unsustainable pricing and low margins.

Piggott Black Bear was formed in 2004 following the merger of Piggott Printers and Black Bear Press. It prints journals, magazines and high-quality corporate and commercial colour printing.

The company failed in October 2007 and was bought by Philip Colchester, who is currently the managing director of the Colchester Print Group.

Piggott Black Bear's administration has no bearing on Colchester Print Group, which comprises of B2 printers Breckland Print, Moreton Hall Press and Norwich Labels.