Montgomery Litho Limited was forced to made 79 people redundant at its Haddington offices in East Lothian – which shut immediately – and 69 at its Glasgow premises, which will remain open.
The firm, which was established in 1983, has a turnover of about £19 million a year and employs 233 staff. It appointed Blair Nimmo and Tony Friar of KPMG at the request of the company's directors as Joint Provisional Liquidators.
They plan to continue to trade the remaining business in Glasgow while a buyer is sought.
Mr Nimmo blamed the difficulties faced by the company on the loss of a major contract.
He added: "Montgomery Litho Limited had been facing difficulties following trading losses and increasing cash flow pressures. The loss of a major customer together with a continuing reduction in order levels at a time of declining demand within the UK printing industry have adversely affected the company.
"It is regrettable, but unfortunately necessary, to have to close operations in Haddington and to implement redundancies both there and in Glasgow."
Meanwhile, all shops owned by camera chain Jessops are to be closed by administrators, with the loss of 1370 jobs – 80 in Scotland.
Accountants PricewaterhouseCoopers is to begin the process of shutting the 187-store network.