The Potters Bar-based firm has now ceased trading with the loss of 16 jobs after appointing Knights & Company in Wiltshire.

Gareth Sheppard, managing director of the 3.5m-turnover firm, attributed its demise to a "culmination of factors", but said that in its first two years, the company had suffered massive losses and had been "playing catch-up" ever since.

"Close Asset Finance came in to reclaim the machinery last week and our lease was up on our premises," said Sheppard.

Liquidator Barry Knights was unable to put a figure on how much was owed. He believed the firms collapse was principally due to an acquisition four years ago.

But one trade printer, who is owed 22,000 dating back to February, said that Aspire director Eric Power dropped off a series of post-dated cheques to creditors last Friday (12 July).

"He must have had full knowledge that the cheques would bounce but we took them in good faith," she said.

She added that Power had attributed Aspires demise to a 420,000 loss last year.

York & Ford is believed to be the principal creditor, owed 60,000-100,000. Stuart Print in Enfield is owed 50,000-80,000 and Tottenham-based printer The Press is owed around 13,000.