Administrators at Sheffield-based packaging printer Greenup & Thompson have decided to close the business with the loss of 60 jobs.
"Sadly we were forced to close the business after failing to find a suitable buyer," said Menzies Corporate Restructuring joint administrator Jason Godefroy.
A skeleton staff of 10 employees is still on-site, completing work and overseeing return of work to clients.
"The only likely purchaser was a competitor, and given the state of the market they were either in the same state or cutting back," added Godefroy.
In October Greenup & Thompson called in the administrators, who immediately cut 29 jobs from its 100-strong workforce (PrintWeek, 5 October).
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"It's wrong to assume the Chinese are behind the curve on automation - it used to be the case that manual processes were kept becuase it was cheaper to use them than buy the automated equipment,..."
"Incredible, what a business!"
"Sad news. Their prices were unsustainable - it was a race to the bottom."
