Some 21 commercial print workers have been made redundant in Belfast after the Northern Whig Ltd went into receivership, PriceWaterhouseCoopers has said.

The Northern Whig was originally one of Ireland's oldest newspapers.

Founded in 1824, the Whig published continuously until it closed in 1963.

The name continued with the Northern Whig Ltd operating as commercial printers for the last three decades, specialising in digital and lithographic printing and design.

Receiver Stephen Cave said: "Unfortunately the company's trading position has deteriorated, due largely to declining turnover in the current difficult economic climate.

"Despite the efforts of the directors to secure a way forward for the business, cashflow pressures led to the business ceasing to trade last week, with all employees being made redundant.

"Since our appointment our immediate objective has been to determine the precise financial position of the company, and to examine potential sale opportunities."