Asher Miller, a partner at the insolvency company, said the printer was set to be liquidated after a creditors' meeting due to be held in the last week of January.
The company ceased trading on 22 December with 160 staff being informed of their redundancy via a letter from new owners Hollyridge Media – a subsidiary of Eastlands Press owner and publishing house Datateam Publishing.
Unite national officer Ann Field described the move as a "scandal", claiming that staff at the site "have been dismissed without wages, notice, holiday pay and redundancy pay".
In some cases four weeks of overtime are owed, she added.
However, Miller defended the closure saying that the owners had "no alternative" as the money was not there to pay the staff.
"There was no way of avoiding insolvency," he said. "The company was saddled by a difficult contract structure and employed too many staff for the work that it had."
Meanwhile, confusion remains over the status of BAS Printers. The company was merged with Borcombe SP by previous owners MPI. However, Miller said that the liquidation involves only Borcombe SP.
Liquidator named at Borcombe SP
David Rubin & Partners has been confirmed as the liquidator for Borcombe SP, following the news that all staff had been made redundant just days before Christmas.
