A notice in the London Gazette said a meeting of Celinco's creditors will be held at the Southgate, north London, office of insolvency practioner Bond Partners on 25 May.

A spokesman for Bond Partners confirmed that Celinco was set to be liquidated, but could not comment further.

This follows the liquidation of Manchester-based Engraving Services (ESL), which was the guarantor in Celinco's deal with PBB administrator Graham Wolloff, of Elwell Watchorn & Saxton on 13 April.

PBB originally called in administrators in September last year. However, print consortium Celinco bought the business and assets two weeks later and continued to trade the company under its PBB name. PBB closed its Cambridge site in January of this year.

According to the administrator's report, dated 29 March, Celinco had not paid either the £95,000 purchase price for the company's assets or money owed to suppliers as part of the deal.

It is not known whether the liquidation of the two companies will mean that any money is finally paid to Elwell Watchorn & Saxton for PBB's assets.

According to the administator's report, the individuals behind the deal incorporated four new companies with names similar to Piggott Black Bear, while Celinco remained dormant. Companies House lists all four of the companies as still active.

Previous phone numbers used by Celinco and ESL have now been disconnected.