Tingdene Homes in Wellingborough is to undergo a restructure in a bid to save 80 people’s jobs.
But the firm has also said it looks likely a total of 60 jobs – almost half its 140-strong work-force – will be at risk of redundancy.
Nick Burgess, group sales and marketing director at Tingdene Homes, said the re-structuring of the business was necessary to save about 80 jobs.
The firm, which is based in Bradfield Road on the Finedon Road industrial estate, is looking at entering into a Company Voluntary Agreement.
Marshman Price confirmed it had been instructed to advise the directors of the firm in relation to such an arrangement.
In a statement Tingdene Homes said: “Tingdene Homes Limited is looking to restructure its business to focus on a smaller production facility to manufacture bespoke, affordable, high-quality park homes and lodges to suit today’s market conditions.
“This may affect a number of jobs and roles within the organisation and therefore it is unfortunate that the company has entered into a consultation period with its employees.
“The company is also looking to work with its supply chain and creditors through a Company Voluntary Agreement process that will allow the business to be in a stronger position for the future.”
The statement said that in 2008 the business was affected by the downturn in the housing market and it had tried to diversify into other areas of modular construction.
It said: “Over the past few years Tingdene has held its own.
“However, serious cash flow problems now pose a problem to the business and the company has no option other than to take action to save as many jobs as it is possible.”
The statement said a new investor in the business would “bring changes and a new dimension to the company”, but Mr Burgess said he was unable to name the investor yet or confirm the deal.
Tingdene creates bespoke homes which suit the park home and leisure lodge market.
The firm’s production is now on its annual two-week summer holiday, while its sales and exhibition centre in Wellingborough remains open.