Previous director David Collins has been trading the company under licence through Argall Solutions, which was created on 3 March 2011, since last Wednesday (9 March 2011).

Collins said that he did not wish to comment until a deal was completed.

Alito Color Group went into administration with UHY Hacker Young last month, around the same time as its partner company Flair Press, which traded as Alito Web, went into administration with Zolfo Cooper.

While Zolfo Copper closed the Northampton-based business upon its appointment, Alito Color Group has been traded by UHY Hacker Young, with a view to finding a buyer.

However, a statement from the administrator this week said: "UHY Hacker Young has ceased trading the business and is looking to sell it back to the previous management. An offer has been accepted but the sale hasn't been completed yet."