According the company's latest Corporate Financial Stability Index figures, which takes into consideration a business's credit scores, County Court Judgements and net worth, 9,742 print companies face "probable collapse and potential winding-up petitions".
Some 5,991 businesses in the print and publishing sector, the vast majority of which are in print, were close behind in the amber category, defined as being in danger of failure because of "substantial financial difficulties".
Just 12% of companies in the sector are in Tenon's green category, meaning just one company in 10 is considered financially stable by the insolvency specialist.
Commenting on the shock claim, Tenon said the print industry is "bleeding from the effects of the recession", with 419 print failures recorded over the course of the past year - more than one printer going bust every 24 hours.
Carl Jackson, national head of Tenon Recovery, said: "The guillotine has fallen on many printing and publishing companies that have struggled to make ends meet following the economic downturn."
He added that a fall in demand for printing services and the withdrawal of credit insurance were key factors relating to the decline.
However, Nick Hood, executive chairman at Begbies Global Network, said he did not believe the sector is in such dire straits.
"Over the last few years, print has actually performed better than expected against other sectors as a whole.
"Where print traditionally suffers is in the aftermath of a recession as the lagging indicators of rising unemployment and insolvencies in the wider economy impact on the industry."
Andy Brown, BPIF corporate affairs director, was also quick to say that things aren't quite as disastrous as Tenon was claiming.
"While the print sector is still contracting, the rate at which it is doing so is easing," he said.
Tenon Recovery advises:
- Maintain liquidity – challenge stock-holding levels
- Forecast for the short, medium and long terms
- Control costs – identify what is truly fixed and variable
- Be flexible – plans change quickly in this climate so make sure you have a ‘Plan B
- Keep talking – build relationships and talk to your customers and suppliers early on
- Seek advice and rehearse any difficult conversations
