Following the announcement that representatives of accounting firm Mazars were advising directors of TL Visuals and "researching options" with them, PrintWeek can now confirm that the company has ceased trading.

Administrator Tim Ball said: "TL Visuals had a good reputation for customer service and high-quality printing work, including printing programmes for both of the Bristol professional football clubs.

"However, the current market conditions and recently encountered severe financial difficulties meant that the company had to cease to trade yesterday and make the 62 staff redundant."

Ball, who is in discussions with various interested parties regarding a sale of the company's business and assets, said interested parties should contact him as soon as possible.

He added: "It is very sad to see an independent company, with a very good reputation for the quality of its work, fail in this way and it is very much hoped that a buyer can be found for the benefit of its customer base, ex-employees and, of course, its creditors.

"Any parties interested in purchasing all or part of the business and assets should contact me as soon as possible on 0117 9734481."

TL Visuals was in the process of negotiating a sale to Plymouth-based Pepper prior to its fall into administration.

Pepper said that the deal fell through because of debts arising during the due diligence process that were incurred outside the company's last full accounting period.