However, it is unclear at this stage how many of the company's 78 employees have been made redundant.

Andrew Andronikou and Michael Kiely of UHY Hacker Young were appointed to Alito on 18 February 2011, although it was initially claimed that they were appointed on 21 February, after the company encountered problems with suppliers following its tie-up with Northampton-based Flair Press (UK).

The administrators are continuing to trade the business with a view to finding a buyer, while former shareholder David Collins has expressed an interest in remaining with Alito.

It is understood that interest has been shown in acquiring the business, although no firm offers have been made. However, if the company is sold it will continue as a slimmed-down version.

Andronikou said: "We plan to keep Alito trading until a buyer is found. It is a matter of significant regret that a number of staff have been made redundant as a result of Alito’s financial situation."