The 98-year-old Loughton, Essex-based company has instructed Grant Thornton and it is expected that the insolvency practitioner will be appointed following a meeting of creditors. 

CW Print Group managing director Richard Wayman said the company has run out of cash, revealing that its turnover had dropped from £9.3m in 2008 and was looking likely to come in at between £4m-5m for 2009.

He said: "Significant price decreases have been forced on us, lots of which have come from the print management companies.

"There have been price cuts after price cuts and they have raised their rebates."

CW Print Group was formed in 1912 and its markets include financial, transport, educational, governmental and banking. The company has 39 staff, down from 84 two years ago.

In July, the company won the BPIF PrintWeek Excellence Awards' Training and development category.

Casburn Wayman trades as CW Print Group, and its holding company Casburn Wayman Communications will continue to trade as a property holding company.