However, Nigel Jones added that, depending who the buyer is, his services at the £2.5m-turnover company may no longer be required.

Wellprint went into administration with insolvency practitioner SFP on 3 July. The company is continuing to trade in administration while a buyer is sought, with all 27 staff still employed.

It is understood that the factoring company called the administrators in.

However, there is some speculation surrounding the business, because a new company, Wellprint UK, was established on 19 June. Its director Martin Moore is director at another company, Basicstyle, which, according to Companies House, also features Nigel Jones as a director.

However, Jones told PrintWeek that there was no plan to buy the company back and said he was not in fact a shareholder at Basic Style.

He said: "We are not in a position to buy the company back. The administrator has indicated that it is a good business and he expects to get a buyer, I understand that there is some interest.

"We are very specialist, working in cardboard engineering, so the order book is not the most desirable part of the business. It is only of any use if you have the skills needed. It is very labour intensive and if anyone came in and got it wrong they could end up losing a lot of money.

"However, if one of our rivals bought us I wouldn't have thought they would want me to be here."

The administrator would not confirm which parties were interested in the business, but said that it was hopeful of a trade.

One printer that has been mentioned is the acquisitive Blue Printing Company. Managing director Paul Mursell said: "We are talking to them, but I don't think it is going to happen."