A meeting of creditors is due to be held at insolvency practitioner Tomlinsons' office in Manchester, at which the business is expected to go into liquidation.

According to Whittaker, the Manchester-baed printer was hit by two bad debts equalling more than £30,000 and it "just couldn't keep going".

However, FI Printing is continuing to trade. He said: "It is up in the air, but we are trying to keep the thing going."

Whittaker would not be drawn on the exact plans going forward, but he did tell PrintWeek that a number of staff working at the company were looking to put money in, adding that if the business was able to continue it would be with different directors.

Tomlinsons could not be contacted for comment.