Administrators Eddie Williams and Matthew Hammond of PwC are hoping to save jobs among the 120 staff by selling the firm quickly.

C&G is a producer of aggregates, ready mixed concrete and mortar for the construction industry with a head office in Stamford.

It has been in business for over 50 years and operates from three quarries and a number of plants throughout the Lincolnshire, Humberside and Peterborough area.

Administrators have only been appointed to C&G Concrete and other parts of the group including FH Gilman & Co are trading as normal.

PwC said the business had faced some significant challenges, particularly the adverse weather conditions during the winter months of 2010.

Eddie Williams, joint administrator and Director at PwC East Midlands, said: “C&G is a well known business within its local markets with a strong reputation for quality and service, which was making significant progress in terms of its performance.

“There have already been a number of serious expressions of interest in the business and our main priority now will be to quickly progress these interested parties plus other potential acquirers to the completion of a sale of the business.

“In looking to achieve a sale, it will be critical that we retain the ongoing support of both the employees and the suppliers to the business.”