A brief statement from UHY Hacker Young said that the business had been sold "effective 9 March", the date at which previous manager David Collins began trading the company under licence through new business Argall Solutions.

Collins was unavailable for comment at this time.

East London sheetfed printer Alito Color Group went into administration last month, around the same time as partner company Flair Press, which traded as Alito Web, went into administration with Zolfo Cooper.

Zolfo Cooper closed the Northampton-based business upon its appointment, while UHY continued to trade Alito Color Group with a view to finding a buyer. When a buyer could not be found the administrator opted to sell the business back to management.

Alito Color Group was previously owned by the former director of Portsmouth and Swindon football clubs Terry Brady, father of former Birmingham City managing director Karen Brady.