The Enquirer understands that hundreds of staff were called-in to the Bolton head office yesterday for an update on re-financing talks.
Forrest has stopped work on sites while it works with restructuring specialist FRP Advisory and potential lenders.
It is understood that staff have been told that it is unsure whether their November wages will be honoured.
One subcontractor said: “I’ve been through this so many times I know the drill off by heart.
“Whatever happens it always ends up with me losing out along with the rest of the supply chain.”
Forrest has run into problems on a series of jobs due to time and cost overruns and low initial bidding.
Forrest agreed its last financial restructuring in March 2017 after racking-up pre-tax losses of nearly £26m in two years.
Last filed accounts for holding company Ensco 996 for the year to March 2017 show the firm has a turnover of £82m and employed 443 people.