The company created its print division, DPN, following the acquisition of Bake Print in 2006. However Bake Print went into administration in April this year, dragging with it its parent company three months later.

The new company's directors are David Marsden, Ian Tonks and James Wills.

According to company secretary Sue Parkinson, who was also secretary at the previous incarnation, Tonks has been senior creative manager at Dunwoody for "many years".

Marsden is a former director at finance company RDM Factors and was not previously with the company.

He said: "[The acquisition of Bake Print] was a massive investment from Dunwoody. Despite substantial cost cuts, Bake Print was never able to get to the turnover required to cover its expenses.

"The failure of the print subsidiary led to the failure of Dunwoody. It was not strong enough to cover the losses on its investment."

He added that the new company would be concentrating on marketing and promotions and will be offering print management services outsourcing its print.

Newbury-based Dunwoody Marketing Communications went into administration with insolvency practitioner Harrisons on 16 July – the same day it changed its name to D354.

Later that same day, Harrisons sold the ongoing business to Drake Financial Solutions for £40,000 – and the company changed its name back to Dunwoody Marketing Communications.

Marsden added that no redundancies had been made at the company, with all staff moving across. He said that the company was aiming for a turnover of at least £4m in its first year.