The Alderson Print Group has said it expects to start making up to 90 of its staff redundant as early as next week.
The Molesey-based business last week confirmed that it had sworn the intent to place its ABP Web production subsidiary into administration.
It is now likely that the redundancy programme for staff employed in the web division will go ahead in early September
Amanda Syson, chief executive of the Alderson Group said it was "left with no other choice" but to start the administration process for the web subsidiary.
"Staff have been paid until the end of the month but owing to the extremely difficult situation we've been placed in, we will have to start informing staff about their futures to prevent them from coming in and risk not getting paid," she added.
The group said, if required, it will use its trusted print partners to carry out its web production work for clients while its other divisions including sheetfed, POS and digital continue to trade well.
Last week Alderson Print Group co-founder Ron Alderson said the need to commence the administration of ABP Web was "the saddest day" of his career following 50 years of successful trading in Surrey.
Alderson said: "It is heart-breaking to have to tell staff that they no longer have a job. It gives me some comfort to know that due to the immediate action taken we are able to pay our staff, who have risked everything to help the company against this unnecessary and destructive action from Barclays.
"The actions of Barclays Bank have been nothing short of immoral and unethical. They do not care about the livelihoods of the people who work here."