FUTURE PRINT, a printing company based in Baldoyle, Dublin 13, is to close with the loss of 110 jobs.

The company was placed in examinership in March but efforts to find a new investors were unsuccessful.

The founder of the business, Chris Jameson (56), who with a partner founded the business “in a shed in Finglas” when he was 17, said he was “broken-hearted” by the closure.

David Carson of Deloitte was appointed examiner to the company in April. At the time the High Court was told an independent accountants’ report prepared by Grant Thornton showed it had a reasonable prospect of survival.

Mr Jameson said the company’s plant at Baldoyle was built eight years ago and was “the pride of the printing industry” because of its technological standards.

He said margins began to narrow in 2008 but the company survived through increasing production. “But January 2009 was like a lightswitch being turned off.” Customers with their own difficulties started to cut back on orders, he said.

He said the Revenue Commissioners and the company’s bankers, AIB, had been supportive, and some customers even paid their bills early in an effort to help. However, other customers got into difficulties and bad debts mounted.

He found no support in the area of State aid: “There is no support available for Irish manufacturing companies.”

He said the company had great support from its staff, many of whom had joined the business in the their teens.

In January the business merged with Business to Print.

The latest filings in the Companies Office are consolidated filings for Sicilian Estates Ltd, the holding company for Future Print.

The accounts show that at the end of April 2008 accumulated profits were €1.12 million and shareholders’ funds were €3.8 million. Turnover was €18.8 million, up more than €1 million on the previous year.

However, the notes for the accounts, which are dated June 2009, state that conditions had deteriorated acutely, margins had been much reduced, and competition had increased. The company’s premises were valued at €7.75 million.

Group borrowings were €7 million with some of the borrowings being the subject of personal guarantees from the directors, Chris and Jacqueline Jameson. A subsidiary, Fodhla Printing Company, had gone into liquidation.