Jamie Paterson, chief executive of Tunbridge Wells-based Patersons, confirmed the company had been placed into administration with Begbies Traynor on Thursday (28 May).
Paterson said the loss of a big investment bank client in February coupled with reducing margins and a drop in orders was to blame for the closure.
"The company has ceased trading and 40 staff have been made redundant," he added.
The closure does not affect the companies print management arm BDL, which was acquired late in 2006.
More to follow...
Paterson Printing in administration with 40 staff axed
Paterson Printing has gone into administration making 40 staff redundant.
