The Maastricht-based firm has a history dating back a century to the foundation of pigment maker Ten Horn Chemistry in 1916, but has changed ownership a number of times in recent years.

It manufactured heatset inks using what was described as a “unique” extrusion process, and supplied customers across Europe as well as in South America and Asia Pacific.

Imex Inks was declared bankrupt on 26 July. Mr Vanhommerig was appointed as bankruptcy judge and Mr R Crombaghs of Rutten & Welling was assigned trustee in bankruptcy.

The firm ceased trading with immediate effect.

One ink expert said: “This failure is due to prevailing conditions in the heatset market and has been anticipated for some time. Imex has been through so many ownership changes and this is the latest in a long line of financial problems at the company.”

Previous owners of the Imex business include Ciba-Geigy and BASF. BASF sold the operation to German investment company Quantum Capital in 2012, at which time the business was run by directors Murat Bekiroglu and Diederik Fetter, a former executive at Roto Smeets and Flint Group.

PrintWeek understands that Quantum subsequently sold the business on, although Rutten & Welling declined to give details about the firm’s current ownership.

The Imex Inks website lists Miguel Boesten as the firm’s managing director.

The number of employees was not disclosed and it’s not clear whether there will be an attempt to resurrect the business.