Business turnaround experts Deloitte have been appointed administrators of Dukinfield-based Shepley Window Systems.
The company's Devon-based subsidiary Interframe - which it bought in 2004 - has also been placed in administration.
The group manufactures PVCu frames for windows, doors and conservatories and has 380 employees in total - 230 of whom work in Manchester and 150 in Devon.
Deloitte intends to continue trading the group, which recorded a turnover of £30m to the end of last year, while looking for a new buyer.
Administrator Bill Dawson said that the company has experienced poor market conditions and has suffered trading losses as a result of lower-than-expected sales in the last quarter of 2007.
Rate hikes
Five interest rates hikes and the Northern Rock crisis rocked consumer confidence in late 2007, making homeowners less likely to borrow money to spend on `big ticket' items such as replacement windows or conservatories.
Mr Dawson said the economic backdrop had resulted in `significant cash pressure' from which the group has been unable to recover. "We are currently seeking buyers and have already had expressions of interest from 20 contacts - and that's before we've advertised the company.
"The group has undergone several rounds of restructuring recently in an attempt to cut costs. We don't have any immediate plans to make staff redundant but we are currently keeping this under review on a daily basis," Manchester-based Mr Dawson added.
Shepley was founded in Dukinfield in 1986 and was bought-out by its management in 2001.
The company became one of the largest fabricators of PVCu windows, doors and conservatory roofs in the UK when it bought Interframe for a reported £10m in 2004.
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