It was announced in September that Inc Solutions had partnered with London commercial printer Blue Group.

Through the partnership, Inc Solutions had set up a creditor repayment scheme, with creditors being repaid all money owed over two years.

From 1 October 2010 Blue Group was taking in money owed to the company and paying new debts to its suppliers, while any profit from its work undertaken would be given to Inc Solutions to pay off previous debts.

However, one of its creditors issued a winding up order on 30 September and according to Blue Group commercial director David Payne the company will now have to close.

He said: "Blue has been paying all the company's bills and we had something in place so that Inc Solutions could pay off its debts in two years. But it has been attacked by a supplier and will now close.

"All the other suppliers agreed. I am not covering previous debts, only bills going forward, so there is nothing that can be done. I was hoping to help the company work past its problems but this one supplier has ruined the whole thing.

"We are disappointed that the proposed creditor agreement failed. Going forward we will continue to supply all work for Inc Solutions' clients".

Inc Solutions is in no way associated with Enfield-based Inc Direct