Greg Palfrey, joint administrator with Smith & Williamson, said: "Unfortunately whilst there were a number of initial enquiries, some of which had come from the PrintWeek article, none of these generated a serious offer.

"There simply isn't the appetite out there at present due to an influx of similar administrations in the industry. Our role now is to realise what few assets are left to distribute to the secured and preferred creditors."

Smith & Williamson was appointed to Century Web Offset, which employed 10 staff, on 26 January after the business found it was unable to meet payments on a £3m investment in new technologies and plant.

Smith & Williamson said that the majority of the employees were laid off in the week prior to its appointment, although several were kept on for a short while to finish work in progress.

Some of the redundant staff were reportedly taken on by Century Web Offset's sister company Century Litho (Truro) Ltd.

Also see:

Century Web Offset falls to administrators
Century Web Offset has been placed in administration with Southampton-based insolvency practioners Smith & Williamson, it has emerged.

Administrators looking for Century Web Offset buyer
Administrators for Century Web Offset are hunting for a buyer for the business, which fell into administration on 26 January after becoming unable to meet payments on a £3m investment.