KPMG administrator Richard Philpott is understood to be in crunch talks with the Olympic Delivery Authority about securing the supply contract for the athletes village.

Trent holds two partially completed long term contracts on the massive scheme to supply pre-cast concrete.

The outcome of these talks will determine the fate of the company in coming weeks and whether the 2012 construction programme can continue unhampered.

Trent is the first major firm to collapse while working on the London 2012 Olympic site.

Presently there are no redundancies planned among the 150 staff and the administrators aim to trade the business until a buyer is found.

KPMG said attempts to find a buyer, would depend on the continued support of customers, suppliers and employees.

“We are optimistic that trading on in receivership will be viable with stakeholder support and we anticipate considerable interest from potential buyers of the business as a going concern,” said Philpott.

During the past 12 months Trent suffered a significant drop in turnover, leading ultimately to the cash pressures and trading difficulties.

The business has historically been engaged in long-term contracts and its pipeline of future work has suffered from the inherent uncertainties surrounding various public sector projects, particularly the cancelled Building Schools for the Future programme.

Trent specialised in bespoke concrete architectural cladding and structural precast concrete for many of the UK’s most prestigious construction projects.

One of its other recent jobs included Westminster College, where it fitted 1,500m² of white reconstructed stone cladding and 2,000m of projections, cills and additional features.

An ODA spokesperson said: “Trent are supplying concrete panels to two of the 11 residential blocks in the Olympic Village site.

“The majority of concrete panels required on the Village have already been delivered to site, with many of the other remaining panels already manufactured.

“Discussions are underway with the Administrator and Trent’s senior team and this will establish the course of action required to arrange the manufacture of any remaining panels. We are confident that overall construction progress on the Village will not be affected.”