Staff were told of the decision by the Boston, Lincolnshire-based company on 26 October, which appointed Begbies Traynor as administrator on 29 October.

According to Begbies, two parties are interested in the assets of the company, one of which has expressed interest in taking on the lease of the property.

A spokeswoman for the company said: "We are looking for a third party to buy the equipment, which is all on finance, in order to claw back a figure to settle the company’s debts with.

"We are hoping this will all be settled and sold by the end of this week but, at present, no deal has been finalised."

It is estimated that the company's turnover was around £4m.

Nobody from Kalas Gemini, of which Jonathan Padley was managing director when it closed, was available for comment.

The company provided packaging for the food, horticulture and entertainment industries, among other sectors.