The firm has debts of 9.8m (CZK 500m).
"Transparent bankruptcy proceedings are the only possibility to prevent a sell-off," said managing director Miroslav Biciste.
Tomas Krysl of Adast USA said he understood the situation to be similar to US Chapter 11 bankruptcy protection.
Have your say in the Printweek Poll
Related stories
Latest comments
"Been there too!"
"Very True"
"Customers expect quality as a basic requirement so quality is no longer a selling point as its a given. Similarly so, accreditations are a nice to have and show customers that you are committed but as..."
Up next...
50 accredited partners offering GGS loans
Guaranteed Growth Scheme receives extra £500m as tariffs bite
Flatter and streamlined organisation
Stora Enso restructure to reflect renewable packaging importance
Took over in the role on 1 April
Paul Brough becomes Mail Users’ Association chair
Birmingham's Marco Pierre White restaurant