Printers and their families marched through the town in protest
Butler and Tanner, the Somerset-based printing firm, which closed suddenly in April will reopen as a new company but with just a third of its old workforce.
The business has been bought by one of Britain's most successful publishers - Felix Dennis - for £500,000.
Creditors and directors have spent the last few days finalising plans to save the firm which will be known as Butler, Tanner and Dennis.
It will remain in Frome. Ninety of the former 300 staff will be re-employed.
Butler and Tanner's product range has included BBC books for Delia Smith and Penguin books for Jamie Oliver, annual reports for Marks & Spencer and Shell, and corporate brochures for Aston Martin and Rolls Royce.