Nick Hood of Begbies Traynor, who was appointed as administrator on 12 November, said a deal for the Leigh-on-Sea printer, trading as Perivan White Dove, was close to being signed.
Hood said lawyers were preparing documentation that would be satisfactory to both parties.
Once the sale is confirmed, this will be excellent news. We will have preserved a business, although with some inevitable job losses, but also retained its operations at the current premises, he said.
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"Gosh! That’s a huge debt - especially HMRC! It’s a shock that HMRC allowed such an amount to be accumulated."
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