Administrators Richard Saville and Peter Blair from Begbies Traynor were appointed to the company, based in Morris Road, Leicester, on 6 November.

A spokeswoman for Begbies said the £3m-turnover company had experienced cash flow problems from the banks and suffered from high cost margins. No further information was available at this time.

Earlier this year, a management buyout team (MBO) took over Impress (Leicester) and set its eyes on boosting turnover to £5.5m.

Ex-owners Martyn and Sandra Kemp were bought out as they were looking to retire after 28 years of running the business.

The MBO's financial backing, described by Impress managing director Ian Watts as "a significant investment", was put together by the Royal Bank of Scotland (RBS) and Fusion Corporate Finance, as well the team's own funds.

The company had invested £700,000 in five-colour Heidelberg CD 102 and a Xerox DocuColor 5252.

The company offered data publishing for direct mail, short-run digital and mailing work and clients, including Flogas and Leicester Tigers rugby club.