Keating, who set up the company more than 20 years ago, said it was a "complete surprise" that the business had been run down in the short period of time since he sold it to Mike Samuel and Paul Musto in July 2007.

He said he had also tried to see what he could do to save the group's plants in Mold when he discovered they were facing closure. Keating has also offered some help to the company's plant in Livingston, Scotland.

Administrators from Ernst & Young said they were still looking for a going concern sale for the site, which employs eight staff.

Keating Group's two plants in Mold, Flintshire have both closed with the loss of 102 jobs, a week after going into administration.

Staff at Mold, which also specialises in repro and cylinder production, were told on 25 January that they would all be made redundant and would not be paid for the final four weeks worked.

Keating Group also has an artwork and repro plant in Bedford that was not affected by the administration.

Its international businesses include a site in Dublin, which has also closed.