Printing firm Evolution Print has gone into administration with the loss of 23 jobs.
The company, based on Atlas Way off Carlisle Street, faced mounting arrears in rent and business rates and took advice from insolvency firm Wilson Field.
The firm, which had been trading for 23 years had faced 40 per cent increases in wholesale paper costs since 2016.
Andy Wood, Associate Director at Wilson Field said: “In common with many in the printing industry, Evolution Print found itself facing soaring increases in wholesale paper costs - well over 40 per cent since 2016.
“This is in a very competitive industry where cost increases cannot easily be passed on and where margins are tight. Cash flow problems developed and things came to a head when legal action was threatened in respect of arrears in business rates.
“This was further aggravated by suppliers requesting either proforma invoices which resulted in difficulty obtaining the basic raw materials to trade, leaving the directors with little alternative but to seek professional advice.”
The company employed 30 staff and 23 jobs were made redundant.
A small number of staff continue to work to finish existing contracts while we seek a new purchaser.