As a result it made 80 employees redundant and the business, which was registered as Flair Press (UK) but traded as Alito Web, has been closed.

Peter Holder, Kevin Coates and Anne O’Keefe of insolvency practitioner Zolfo Cooper were appointed as Joint Administrators of Flair Press (UK) on 22 February 2011.

A statement from the administrator sent on Friday (11 March) stated: "Following appointment, the administrators established that it was not viable to trade the business, whilst pursing a going concern sale. As a consequence, a decision was taken to immediately close the business."

As well as Alito Web, its partner company Alito Color Group also went into administration last month. The administrator is still believed to be looking for a buyer for the East London business.