One employee described the news as "catastrophic"
More than 100 jobs are under threat at a printing firm in Oxfordshire.
Company directors at Alden HenDi, based at De Haviland Way in Witney, confirmed that the business could go into administration.
The Alden Group was established in Oxford in 1832, by Baptist Henry Alden, to publish anti-slavery pamphlets. It also made the city's first guide book.
One employee said: "The company couldn't pay us for November - it's catastrophic."
The company, which has its offices in Tory leader David Cameron's constituency, now prints academic journals, books and magazines as well as commercial printing.
The worker, who gave his name as Steve, said: "I am unable to meet my mortgage repayments this month and it will put me in arrears.
"I've got to find another job and Christmas has been cancelled - we can't do anything now.
"The explanations that have been mooted are that the bank is reducing [its] risk."