The company, Bravo Digital Print Group, went into liquidation on Thursday 10 June, with Keith Sutherland from insolvency practitioner Bent & Cougle appointed.
Sutherland told ProPrint that the liquidation had commenced, "but I have not formed a view on the reason for the liquidation".
The liquidators were still waiting on the valuation report but Sutherland said any return to creditors would be not be significant.
A creditor's meeting is scheduled to take place on 24 June.
Bravo's owner, Denny Sebek, told ProPrint that he had restructured the company, which is now trading as Bravo Print & Design, and said the only parties to lose money would be himself and "family creditors".
He said that the new company would no longer have any relationship with former partner companies Colour Graphic and Niche Textile Digital Print.
Sebek said customers had been notified, adding that eight-staff Bravo was now looking to the future. "March, April and May were our strongest months ever. Our clients are growing and making us grow."
He added that the business owned very few assets and that the printing equipment, which includes a 104cm-wide Roland DG printer, was owned by him personally.
Colour Graphic and Niche Textile Digital Print could not be reached for comment.
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