Administrator Colin Wilson, of Tenon Recovery, said that a rival bid for the Dartford-based business, which went into administration on 9 July 2009, was dropped, however he hoped that a deal for the business would go through soon.

Tenon Recovery has gone through a two-month campaign in order to find the best deal for the business. Initially, more than 20 enquiries were made, according to Wilson.

Crossways Envelopes, which is trading the company under licence, looks likely to purchase the business. The directors of Crossways are Nigel Harper and Guy Butters – both of Bespoke Envelopes Direct.

Wilson told PrintWeek on Friday: "We are very nearly there. There are a number of finance companies involved and we have to satisfy their requirements. I am confident the deal will go through soon, we are not very far away."