Steel engineering company RPG Australia, which employs 310 staff, has entered administration.
Already 154 redundancies have been made at RPG, an Australian-owned heavy steel manufacturing and installation business with four plants in Queensland and South Australia.
The business is primarily involved in the construction of large steel structures, such as wind power generation towers, the pilings for wharfs and bridges, pipes and other steel structures for the mining and renewable energy sectors.
Administrators from Ferrier Hodgson have been appointed and are undertaking an "urgent review" of RPG's financial position.
They have already closed RPG's plants in Dalby, QLD, resulting in 76 redundancies and at Richlands, Qld, where eight redundancies were announced.
In South Australia administrators closed the Kilburn plant, resulting in 69 redundancies.
One employee in Melbourne was also made redundant and the administrators said RPG's operations at Wacol, Qld plant remain under review.
The business has been advertised for "urgent sale" with the administrators calling for expression of interests for the RPG business and assets.
"The administrators are hopeful that ongoing support from all stakeholders will allow for a sale of the remaining businesses to take place and the employment of staff preserved," Ferrier Hodgson said in a recent statement.
"The outcome of any sale of business and asset realisations during the administration will determine whether staff will receive their entitlements in full from the assets of the group."