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.
Have your say in the Printweek Poll
Related stories
Latest comments
"Thank you for the opportunity to comment on this Jo, and PrintWeek!
Please feel free to get in touch with the Howden Print Team to arrange your own Free of Charge Cyber Micro-Penetration Test to help..."
"I never quite understand the statements such as "achieved such a positive outcome for this well-established business".
The established business unfortunately failed and no longer exists, a..."
"Genuinely sorry to read this."
Up next...
Certification can help
Printers urged to check exposure to cyber crime
Held at Aston Martin Racing Technology Campus
Xerox highlights power of data at client event
Support for important local event
Fujifilm contributes to Operation Dynamo commemorations
Standout addition to press hall