Administrative receiver Ernst & Young may not sell Castleford's Hardy Business Forms as it has not been offered a satisfactory bid.
The number of potential buyers has dropped from three to one since the firm went into administrative receivership in August.
GPMU Leeds & Central Yorkshire GPMU joint branch secretary Donald Place said talks were continuing with the final bidder and a decision would be made this week.
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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."
