FORTY-EIGHT Oswaldtwistle jobs have been lost, and another 94 are at risk, after a specialist printing firm was put into administration.

Ward Knowles Ltd, which has two sites, one in Oswaldtwistle and another in Ancoats, Manchester, was put in the control of administrators KPMG yesterday.

The company, founded in 1904, has a turnover of approximately £15million.

The Oswaldtwistle site employs 142 people, and the Ancoats site employs 23, of which a further 11 have been made redundant.

Paul Flint and Brian Green, from KPMG Restructuring in Manchester, have been appointed joint admin-istrators and an initial review of the operations is currently being under-taken to determine whether a limited period of trading will take place.

Mr Flint said: “This administration has been the culmination of a difficult trading period, during which the firm became heavily loss-making.

“We are working intensively with the stakeholders and unions to find a solution, including exploring options for a potential sale of the business.

“Business support services comp-anies are really feeling the strain as businesses seek to reduce supplier costs. Printing is one of the most obvious areas in which businesses can reduce costs quickly, particularly in an age where communications are increasingly moving online.”

Peter Britcliffe, leader of Hyndburn Council, said: “I feel so sorry for the people who have lost their jobs. It’s bad news for the town as a whole because the workers from Ward Knowles spend money in Oswaldtwistle.

“Unfortunately, it’s part of this very difficult recession and I hope we get through it soon. Ward Knowles have always been a very reliable firm and have employed a lot of people in the area.”