Administrators Greg Palfrey and Steve Adshead of insolvency practitioner Smith & Williamson were appointed to the Redruth-based company, which traded under the Century Print brand, on Monday (29 June).

All 60 jobs at the plant have been lost and the £3m-turnover business has ceased trading.

Smith & Williamson said it was still looking for prospective buyers for the business as a going concern, despite a proposed deal already falling through.

Palfrey said: "Our appointment followed several days of intense negotiations to find a buyer for some or all of the businesses. While there was some interest, all parties ultimately withdrew.

"Measures have been taken to support the staff in making rapid claims to the National Insurance Fund, which will pay former staff some of the entitlements that the company cannot. We would welcome any further expressions of interest in the business and assets."

In March this year, 10 positions were made redundant at sister company Century Web Offset when it went into administration, also with Smith & Williamson. It was subsequently closed after attempts to find a buyer failed.

Century Print in Corby, Northants is a completely separate company and is unaffected by the fall into administration.