The management of MCH Printing Group in Charlton have bought its assets out of receivership with RSM Robson Rhodes, leaving unsecured creditors with "substantial" debts.
MCH appointed RSM Robson Rhodes on 23 July, and Goldmerit, trading as Yellow Printing, acquired the assets the next day.
Goldmerit trades from the same London address. Former MCH Printing director David Buckley is a director of the new company.
RSM Robson Rhodes partner Daniel Smith said: "Keeping the company trading on as MCH wasnt an option. We could only sell it to a management team at least that way we preserved the jobs there."
But Smith said that because the company had limited assets a number of creditors would suffer substantial losses.
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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."
"Whatever happened to the good old fashioned cash job! At least the banks didn't take 2-3% of each sale. After 30 odd transactions that £100 quid you had has gone."
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