The book printing group is not yet in administration.

In a statement issued to PrintWeek, chief executive Tony Chard said that discussions were underway with advisors from BDO and the financial stakeholders in the business “in relation to the options that remain available” including saving the group as a going concern along with other potential rescue options.

Chard told PrintWeek: “I can confirm that there is third party interest. The directors do have an appetite to try and salvage something, but the banks will determine how best to move forward to safeguard as many jobs as possible.”

The £19.4m book printing group hit the buffers almost a fortnight ago, after running out of cash.

“The directors would like to reiterate that the company is not in administration although a notice of intention to appoint administrators remains in place. This notice affords the business time to enable the management to evaluate all options available.” MPG’s statement said.

“The directors appreciate that the outcome is still not clear and would like to thank all stakeholders affected by the current position for their continued support at this time.”

Speculation about a possible rescue plan centres on interest in the King’s Lynn site, formerly Biddles, where MPG has undertaken a major reinvestment in digital kit.