He put the £55.3m-turnover UK print wing up for sale two weeks ago due to ongoing turmoil in the largely loss-making web offset sector.

The deadline for indications of interest was noon on Wednesday (6 July). "The deadline was a target date to get the ball rolling," Pindar told PrintWeek. "We are in the process of receiving offers end of this week and start of next."

Trade buyers from the continent and North America are understood to be among the parties interested in the 480-employee business, along with at least one UK web printer.

However, constructing a deal is likely to be complicated by the £19.5m deficit in Pindar's pension scheme, which could be a deterrent to potential investors. One rival web printer commented: "Nobody is going to buy that company and its pension liability."

Unite national officer Steve Sibbald, who just last week predicted the storm ravaging UK web offset would continue for another year, said: "If I were working for Pindar I would be very nervous. If they get a buyer it is likely to be a venture capitalist, and they will only be interested in the balance sheet, not employment. At least when it is a family business there is a level of responsibility for the staff, a mutual loyalty."

The Agility multi-channel software business is not included in the deal, but could be sold separately. The Alphagraphics quick-print franchise is entirely separate and is not part of the strategic review.