MB Insolvency owner Mark Bowen has been instructed to the family-run company, based in Totnes, Devon.

He said the company has ceased to trade after the print market become increasingly competitive.

"While the company had to move with the times with regard to equipment, it was a mixture of both the economy and the market that has affected it," he said.

A creditors meeting has been scheduled for 18 December, and Bowen said there has been "some interest" from other people in the print industry.

He said: "We've had people interested in the company for its goodwill and customer relationships. However, whether they will make a bid to acquire the goodwill I don't yet know."

Colour Works was established 18 years ago and provided design, print, and finishing services.

It prided itself on its environmental awareness, and said its deliveries were planned to minimise environmental impact.

The company also used vegetable-based inks, recycled paper and had reduced the use of harmful chemicals in the print process.

In 2005, the business was voted Devon's most environmental company by The Devon Environmental Business Initiative.

Managing directors Paul and Jo Hall were unavailable to comment.

DSI Colourworks in Docklands, London, is not in anyway related to Colour Works.