One of the oldest carpet makers in the country - based in Devon - is trying to find buyers for the business.
Axminster Carpets has filed a notice of intention to appoint administrators.
The company says its focus remains on securing a sustainable future.
If it is forced into administration, 90 jobs could be at risk.
The historic business has supplied carpets for Buckingham Palace and the US House of Representatives.
But last year it announced job losses, citing "uncertainties around Brexit" as being a core factor in the decision.
The company says it is "working to find buyers for the business as a going concern".
A spokesperson said: "We have filed a notice of intention to appoint administrators which provides the company with the required protection as we work towards a going concern solution.
"As part of the restructure that we confirmed last year our focus remains on securing a sustainable future for Axminster Carpets."