In an internal blog, the chief executive praised Geon’s staff for the way they were dealing with the challenges of the receivership.

“I am very proud of the manner and attitude that you showed and also the determination to see this through. I believe KKR and Allegro are very serious about their intentions for a new and revitalised Geon.”

Morgan said that McGrath Nicol, which were appointed receivers last week, “want us to keep trading successfully and so will help us to unlock problems as we work through the next four to six weeks”.

In the memo, Morgan also told staff: "I would encourage you not to take too much attention to the trade press. A lot of what they have reported to date is factually inaccurate and, for some reason, they appear to delight in the challenging circumstances we are in.

"I promise you I will keep telling you the truth, even when it is hard, and ask you all to take a balanced view of what you see and read."

Morgan also wrote: "I'm sure it's going to be a challenging and difficult road ahead and we'll probably have to make some hard decisions along the way, but I take faith when the receiver says that they want this process to be as quick as possible so that we can aim to end up with a business with little debt and [that] has money to invest in our business".

He said he had been "humbled" by the support he had received from clients, suppliers and other printers, which he attributed to the good work of staff.

"If we just keep doing what we have always done – give [customers] great products on time – then I am confident they will continue to support us," he said.

"I realise that this is a very challenging time for you all. I wish it hadn't needed to have happened and I am sorry that you are having to go through this.

"One thing you can be assured of in this time of uncertainty is that I will work alongside you to get us through this as fast as we can."

One former Geon employee told ProPrint that Morgan’s letter had been met with mixed reactions by the workforce. “They know suppliers aren’t supporting them. They know suppliers will lose a lot of money. Geon staff feel for their suppliers.”

[Related: Ups and downs of Geon]

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