Joint administrator Paul Masters, of Leonard Curtis, said this morning that he was in advanced negotiations with "a number of interested parties" and anticipated an imminent sale, however he would not be drawn further on any details.

He would not comment on whether any redundancies had been made at the company or the identity of the bidders.

A company named Folium Print has been incorporated at Companies House. The directors of the company are the same as those of print management firm Oliver Marketing.

However, it remains unclear as to whether the company is in any way related to Folium Group or has been incorporated in anticipation of a bid for the company.

The directors of Oliver Marketing were unavailable for comment.

Solihull-based Folium Group went into administration on 1 April.