The Northumberland-based plant, the UK division of German company Alkor-Venilia GmbH, ceased manufacturing in April and its employees were made redundant in July.

The assets to be sold off include James Halley and Holweg gravure printing presses, reel slitting, rewinding and packaging machinery, and design cylinders. Other items being sold off include machine tools, measurement equipment, air compressors, IT equipment and office furniture.

The company’s administrators Mercer & Hole were originally seeking to sell it as a complete business but could not find a buyer willing to inject enough capital.

Edward Symmons’ auctioneer James Nield said: "We will be marketing the business assets to an extensive database of national and international contacts during our online auction which will close on 25 October.

"We will strive to reach Asia and Eastern Europe with the printing presses and finishing equipment; whereas the general purpose assets will receive a large level of interest from the UK, Europe and beyond. This approach will ensure the maximum returns for the company’s creditors."

Details for the online sale are available at www.edwardsymmons.com.