Employees have been sent home from M&J Haulage, it has been reported.
Administrators have been appointed to M&J Haulage Limited, a sugar beet handling company based in Snelland - putting 24 jobs at risk.
A number of subcontractors used by the firm may also have to look elsewhere for work.
Chris Pole, partner at KPMG and joint administrator, explained: “The company had recently seen a decline in its order book, which led to significant pressure on its cashflow.
“Over the coming days, we will be assessing options for the business, including the possibility of resuming operations, while we explore a sale of the business and its assets.”