The company is continuing to trade but it has experienced significant trading losses and we are hopeful of finalising a sale of the business, said Mike Oldham, corporate recovery partner at RSM Robson Rhodes.

Oldham said the directors of the 5m-turnover Chelmsford-based firm had expressed an interest in continuing the business, but offers had also been received from outside the company.

Daily meetings are on-going, according to Oldham, and although no redundancies have been made he did not rule out reductions in staffing for the business to continue trading.

Clifford Thames Printing Company demerged itself from the Clifford Thames Group in January last year, in an MBO involving directors Nigel Grant, Gordon Billage and Mike Herbert (PrintWeek, 26 January 2001).

The company also bought the business and assets of Norwich-based Child Reprographics.

Story by Andy Scott