According to the organisation, there were 4,941 compulsory liquidations and creditors voluntary liquidations in England and Wales during the period.

However, credit-checking organisation ICSM warned that printers should be concerned by the amount of businesses going into administration, not just the amount of printers closing.

According to the Insolvency Service, there were 1,783 corporate insolvencies, of which 1.311 were administrations – a 54% increase year-on-year.

ICSM director Rupert Rudd told PrintWeek that printers suffer when a customer goes into administration, regardless of whether that ends in closure.

"Who are printers' customers? Everybody. Tyre manufacturers, car manufacturers, hotels, everybody. A commercial printer will deal with so many different products and the fact that companies are failing left, right and centre should be concerning to your average printer," he said.

He added that although the print industry has been hit hard by the recession, it is difficult to quantify how many of these companies were print related.

The announcement from the Insolvency Service comes just a few weeks after the 2009 Budget, which stated that there would be a consultation into changes to the administration and liquidation process.

Many in the print industry have long criticised the process as a 'get-out clause' for financially unviable businesses.