The Norfolk-based supplier of plants to UK supermarkets, Suttons Horticulture, has called in the administrators for it and its subsidiary, PA Moerman.
Almost 100 workers have lost their jobs and, according to local press reports, only 31 staff have been retained as the administrators Grant Thornton look to sell the businesses as going concerns.
Suttons has been one of Norfolk's fastest growing businesses, supplying around 16 million plants a year to supermarkets such as the Co-op, Morrisons and Tesco from its three Norfolk nurseries.
Its successes saw sales growing 68% a year from £3.1m in 2000 to £14.6m in 2003.
In 2004 named as one of the UK's fastest growing companies in the Sunday Times Profit Track 100.