The case was postponed until 2 June, when it was expected to be moved to the crown court.
However, a spokeswoman for Chippenham magistrate said: "The prosecution requested that all matters be discharged. They are looking at reinstating the charges but this time issuing a summons rather than a charge sheet."
Hemmings became director of Cromwell Press in February 1991, the day it was formed, and remained in the role until the company went into administration on 12 February 2009.
The company was then bought by local business man John Boden, using a new business Baldwin, which itself failed in September 2010. Boden complained very early on that suppliers had failed to support the new business.
Although Hemmings was not a director at Baldwin, it is understood that he continued to work at the business.