Lingerie maker Intimas has brought in the administrators after a long spell of poor trading in the economic downturn.
The Derbyshire-based business has called in PricewaterhouseCoopers to sell the company as a going concern and protect its 200-odd employees' positions.
The administrators are to review the business and the sale options for Intimas and its main brands.
Intimas reported £1.65m of losses in the first half of 2008, due to declining sales.
Intimas specialises in designing women's lingerie and swimwear. It also manufactures brand goods for labels including Ted Baker, Lepel and Charnos, as well as collections for retailers on the high street.
Intimas signed a three-year contract to make products for Caprice Lingerie, in 2006.
Stuart Maddison, joint administrator at PricewaterhouseCoopers, believes that the sale will attract plenty of interest.
