The printer hit out after a local newspaper reported that some of the its employees had approached the press complaining of late wages and underpayment.

According to the employees, the Trowbridge, Wiltshire-based company, which was bought out of administration with sister business Chivers Bookbinders by former Midway Press owner John Boden last year, has been underpaying staff for several months.

Speaking to local newspaper The Wiltshire Times, one print worker said: "We are not getting paid the full amount each month. We got 40% of June's pay and we are due July's money today. This is ongoing. We have threatened down-tooling but we will be sacked if we do."

Another added "people just want the company to go under now".

However, a spokesman for Cromwell Press told PrintWeek: "A long-standing arrangement with the staff has been in place for more than six months now. It is there to smooth out the company's cashflow.

"Like so many businesses cashflow is a problem, but the company is doing its best to meet its obligations and, as far as John Boden is concerned, they are on top of it. The company is heading into its busy season and hopefully it will get better."

The spokesman added: "What I don't understand is these employees trying to publicise this situation, surely everyone should be pulling together at this time. What these individuals – and it is only a small number – will do, is bring about the end of the business."