Southern Color Print is sold to Bluestar, a marketing and printing company with offices nationwide.
Southern Color Print managing director Sean McMahon said last night that the sale is expected to close shortly.
He confirmed that if the deal goes ahead, the staff would be made redundant.
The staff had been informed of the situation.
The Dunedin-based print shop was scrambling to find new jobs for staff, he said.
He declined to confirm when trading would cease, saying details were still being worked out.
He also declined to comment on the reasons for the sale of the business.
the Otago Daily Times understands that staff will receive a layoff notice today, indicating that the company will cease operations on May 13.
Southern Color Print is recognized as a world leader in stamp printing.
He has won numerous national and international printing awards and has been commissioned by the New Zealand Post to print stamps marking many occasions including royal visits and events.
Its website says the company’s origins date back to 1870.
In 2020, Southern Color Print reportedly employed 26 people, who agreed to work reduced hours at the time due to the effects of Covid-19.
Company staff have a collective agreement with Etu, the union covering the printing industries.
Organizer Gwyn Stevenson said despite the buoyant job market, the news came as a shock to staff and their families.
He declined to comment further last night.