The restructuring specialist's Red Flag Alert compared the fourth quarters of 2008 and 2007. The survey revealed that other sectors had been worse hit. It claimed the advertising sector had seen a 191% rise in the number of organisations facing severe difficulties in Q4 2008 compared with 2007.

It added that construction had undergone a 190% increase in the number of firms in danger. Recruitment and property services had seen a 159% and 156% increase in ‘critical' companies, respectively. Begbies Traynor partner Nick Hood said: "The print sector feels the downturn more than many others, as its services are used by all." He added that the banking crisis had hit the print industry particularly hard as the financial services sector was traditionally the biggest user of direct mail to customers.