It is understood that around 15 jobs have been saved by the deal, while TPF has agreed to underwrite the cost of ensuring that the contractual rights of all staff are honoured in full.

This includes the staff made redundant at the end of last year, believed to number around 65.

TPF Group chief executive Steve Brundle said: "In these extraordinarily challenging times it's really just a question of trying to salvage whatever you can from difficult situations like this.

"The reality is that the market appetite for acquiring struggling print companies, on whatever terms, is pretty much non-existent at the moment. However, this move will save a number of jobs and will also ensure business continuity for clients whose own operations depended on Printhaus.

"What's more we've committed to honouring the contractual employment rights of all the staff, including those recently made redundant."

Northampton-based Printhaus fell into administration on 19 January, at which time Michael Kiely of UHY Hacker Young was appointed.

More to follow…