In its ‘Risk Bulletin' table of hardest-hit trade sectors, print appeared fourth with an insolvency rate of 0.72% for the first quarter of the year, up from 0.71% in Q4 2009.
The paper sector followed closely behind in fifth place, with an insolvency rate of 0.69%, up from 0.46%.
Euler Hermes risk underwriting manager Paul Trigg said the report questioned whether the print sector was in recovery, or if worse is still to come. He said: "There have been suggestions of a meltdown, but this is not a view I would support."
He said the web offset market had a number of large players that were continuing to lose "significant sums". Further insolvencies are also expected in the sheetfed market, he added.
Managing director of print and print management firm Cliffe Associates, Nigel Cliffe, said the most important figure revealed in the statistics was the rate of change - and the little change recorded could be considered to be a good thing.
He said: "I agree with the summary that print continues to be in bad shape statistically, but the true position remains very hard to judge. I'm sure the continued decline in overall print spend will have its effect on print insolvencies, even when we have evidence of an improvement in the economy."
He claimed the print businesses that survive and get stronger will be those that widen their service base to customers. "Fortunately, we are seeing some of these too," he said.
Also revealed in the Euler Hermes report was the impact of increasing paper prices, which, while "sorely needed" by the paper industry, had an "evident impact on the supply chain".
Trigg said this was particularly evident when banking facilities are restricted.
BPIF director of corporate affairs Andy Brown said the research suggested it was difficult for printers to absorb paper increases. The Euler Hermes results show that the sector is clearly in difficult times," he explained.
"However, I was glad to see that they said the sector isn't in meltdown, as we would echo that. Print continues to adapt to take out cost and add value."
Insolvency rate shows signs of improvement for start of 2010
The health of the print industry has shown little improvement but has not significantly worsened during the start of 2010, according to the latest insolvency figures from Euler Hermes UK.
