VISIT Lincolnshire, which promotes tourism in the county, is calling in the administrators to dispose of the business.
The move comes after Lincolnshire County Council pulled its funding out of the organisation, as reported at Christmas.
Directors of Visit Lincolnshire have now accepted there is now seemingly no prospect of the company receiving sufficient funds for it to continue to trade beyond March 31.
It is anticipated that the appointment of the administrators will be confirmed by the middle of February if sufficient funding is not forthcoming.
Marc Etches, interim chief executive said: “As a consequence of the loss of public funding, most recently from Lincolnshire County Council, Visit Lincolnshire’s board has made a very difficult decision to begin the process of appointing administrators.
“Despite our best efforts to persuade Lincolnshire County Council to recognise the value of Visit Lincolnshire and our role in promoting and growing tourism – worth £1 billion to the local economy and employing 17,000 people throughout the county – Lincolnshire will be left out in the cold nationally and internationally.”