The company's UK supplier Graphic Machinery Services has said that UK customers will not be affected by the situation.

Joint managing director Steve Kernoghan said: "It is business as usual for us for service and spares, we are just waiting to see what happens going forward."

Under the act, the company will formulate a plan to continue in a financially sound manner although any such decisions will have to be approved by larger creditors and the courts. It is now in the process of reorganising the business.

A statement from Shinohara president Mikio Shinohara said: "We deeply apologise for the inconvenience and anxiety we have caused. Shinohara swears to do our utmost to achieve a corporate revival."

He added that the company would continue to operate as normal while it was working through the bankruptcy protection.

The UK does not have its own version of CRA, although it encompasses some of the elements of a Creditors Voluntary Arrangement.