Joint administrators David Paul Hudson and Lloyd Biscoe of Begbies Traynor were appointed on 31 July to the Walthamstow, London-based company.

Bovince ceased to trade on 2 July, after it failed to meet the terms of its corporate voluntary agreement (CVA), resulting in 30 job losses.

An auction to sell the kit has taken place, and a significant part is understood to have been sold.

One member of staff at Bovince blamed the current economic crisis and a lack of sales for the closure.

In 2006, Bovince entered into CVA status. According to Companies House, tangible assets for the year ending 30 September 2006 totalled £280,000 – down from £769,000 a year earlier.

Shareholders' funds for the same period in 2006 made a loss of £516,000, compared to a profit of £85,000 a year earlier.

Bovince was one of the largest screen process and digital printers in Europe, running 12 on-line machines, 24 hours-a-day, seven days a week.

Markets included all screen and digital print requirements from large multi-sheet posters, banners, bus sides, bus shelters and Superlite panels, to all point-of-sale display material.