Last night, BDO was understood to be seeking a buyer for Lincolnshire-based commercial printer Wayzgoose and Nottingham litho printer Clearpoint (which traded as Clearpoint Colourprint) following its appointment on Monday.

Toby Underwood, joint administrator and partner at BDO Stoy Hayward, said: "VCS (Wayzgoose) and VCS (Clearpoint) have been victims of increased competition in their marketplace as well as economic pressures.

"Following an immediate business review, we regrettably had to make the workforce of the two businesses redundant."

In a statement sent to redundant staff, BDO said that Wayzgoose and Clearpoint were in administration, and that the company’s insolvency meant it is no longer in a position to continue trading.

A former employee at Wayzgoose told PrintWeek that staff were advised on the morning of 16 September that the company was in receivership.

He said market conditions have "just disintegrated", particularly the section of B1 print the company works in.

Wayzgoose produces a range of printed products including greetings cards, corporate literature, company reports, educational and promotional items.

Clearpoint specialises in brochures, catalogues and magazines.

VCS Group managing director Peter Smith was unavailable for comment.

PrintWeek would like to make it clear that Clearpoint Print Services in Basford, Nottingham is in no way associated with VCS (Clearpoint)/Clearpoint Colourprint. Clearpoint Print Services is successful 70-year old trade screen, digital and litho printer and there is no suggestion that it has gone into administration.