Palletways member EH Lee has gone into administration owing approximately £500,000 to creditors.
Corporate insolvency specialist Grant Thornton was appointed as administrator on 29 January, and is in the process of finding a buyer for part of the Peterborough, Cambs-based business.
"If possible, we would like to find a buyer for the waste management service side of the business," reveals Ian Carr, a partner and head of Grant Thornton's haulage and logistics division. "We have had some interest already, and are looking to receive offers this week."
Thirty of EH Lee's 71 staff have been made redundant, including company directors Martin Lee and John Taylor.
Carr says the company is continuing to trade, but at a "limited level" and anticipates further redundancies.
As well as the firm's Peterborough HQ, it also operated depots in Doncaster, South Yorks and Lincoln.
A Palletways spokesperson adds: "Collections and deliveries made by EH Lee on behalf of Palletways are being covered by our member network to ensure that it is business as usual for customers."