Fellow Redcar-based printer Theakston Print, which had shared a building with Studio Print, went into liquidation on 16 June this year, after which 15-staff Studio Print took on the entire site, as well as a five-colour and two-colour Crabtree press.

Managing director Eddie Holder said: "We have a digital department, so we can produce things like business cards, but we go right through B2 with a Komori and now we have 60x40 machines too."

Studio Print, which has a turnover of more than £1m, has taken on two of Theakston's eight staff.

Holder said the company planned to continue this trend: "We hope to employ them on a permanent basis once the work warrants it."

The site which Studio Print currently inhabits has had a somewhat chequered history in terms of print. It used to house print business Jordison Print, which went bust in 2005 and again in 2006 - the latter after a failed attempt by a former employee to revive the 160-year-old company.

Studio Print's Holder said: "We were saddened by the collapse of Theakston and the earlier loss of Jordison, but we are not at all superstitious about taking over the factory because ours is a very different business strategy.

"We have built up a reputation for high-quality and fast turnaround in printing and have successfully built up contracts with customers throughout the UK."