Winchester printing business Colourworld has fallen victim to the recession and gone into liquidation.

Business rescue, recovery and turnaround specialist Begbies Traynor has been appointed liquidator of the company based on the Moorside Business Park.

Colourworld, established 18 years ago by Andy Tyler-Smith, has ceased trading and all 43 members of staff have been made redundant.

Lloyd Biscoe, of Begbies Traynor, said: “The effect of the recession, in particular the reduction in credit terms from their trade suppliers, has unfortunately forced the closure of this business.

“There are assets to sell including the freehold property and interested parties should contact Edward Symmons in Southampton on 023-8046-1630."

A creditors' meeting is in the process of being convened and creditors will be notified accordingly.