Paul Boyle and Paul Sallabank of insolvency practitioners Harrisons were appointed to the East London-based company on Thursday 17 July.

The £6m-turnover firm was subsequently bought out of administration by new company Cervidae on Friday 25 July. According to Companies House, Cervidae's sole director is John Freeman.

Staff at the company have reported that Freeman worked as a salesman for Yellow Printing and was also employed by MCH Printing Group – the company that was bought out of administration to form Yellow Printing Company in 2001.

David Buckley, who was director at Yellow Printing Company and MCH, is not taking on any directorial role at the company, however the company said he would be assisting in the business transfer.

Will Gunston, partner at Cervidae's solicitor Dickinson Dees, told PrintWeek: "Buckley does not intend to take an executive role in the affairs of the new company going forward, save as to assist Cervidae, as far as possible, with a seamless transfer of the business as a going concern."

According to the administrators, Cervidae will operate from Yellow's premises. The company has bought the "tangible and intangible" assets and has retained the right to buy the company's brand.

The new company, which was incorporated as DHB Printing on 4 July this year before changing its name to Cervidae on 18 July, has been operating at the premises since 18 July.

Debi Harvey, partner at Harrisons, told PrintWeek: "We could not trade as administrators because we did not have the funds, so the new company had a licence to operate from 18 July."

Originally the sale was supposed to go through last Tuesday evening (22 July), but Harvey said there were "contractual issues" which delayed the process.

Yellow's factoring company RDM Factors, which is owned by SME Invoice Finance, appointed the administrators.

PrintWeek has learnt that before the administrators were appointed, Close Asset Finance removed several undisclosed items of kit.

Several members of staff have also contacted PrintWeek saying they were not paid wages for the final two months of Yellow's existence. They have been told they must now claim unpaid wages from the government. It is unclear how many staff will be kept on by the new company.

Gunston said: "It is intended that those employees whose contracts were not terminated prior to the acquisition will be employed by Cervidae."

Freeman was unavailable for comment when contacted by PrintWeek.