A Tasmanian courier and storage company is expected to stop trading this afternoon after 25 years in the business, with the loss of about 100 jobs.
Road Runners told its workers in Hobart, Devonport and Launceston on Thursday that it had gone into administration.
The company lost a major contract in January and administrator Paul Cook says it has been struggling to pay wages.
Mr Cook was in talks with a potential buyer last night.
The Workplace Relations Minister, David O'Byrne, says he hopes a deal can be secured to protect as many jobs as possible.
Michael Bailey from the Chamber of Commerce and Industry says it is a sign of the times.
"We seem to be taking one step forward in Tasmanian business and two steps back." "We'll certainly be keeping a close eye on that and supporting any of our members that have been caught up in this and clearly it's a very difficult situation for all people involved." Creditors will meet on March 4.