The Aldershot-based business called in administrator Antony Fanshawe from Begbies Traynor on 15 January, placing the jobs of its 35 staff at risk.

Fanshawe said that while investment in cutting-edge technology had proved essential in the print industry, borrowing could leave a business vulnerable if a market floundered.

"In today's economic climate, a body blow such as bad debt can then prove fatal," he said.

It is hoped that some of the staff at the family-run company can be saved if a buyer for the business is secured.

Some interest has already been generated, and Lime PM will continue to trade while the search is under way.

Fanshawe said: "We are hopeful that with the wide range of quality machinery contained in the company and a goodwill track record and client base which spans over 20 years, the company will be an attractive proposition for a buyer."

The £4m-turnover company had traded successfully for almost two decades. Clients include major national and international names.