A chilled food distributor which counts J Sainsbury, the supermarket giant, as its biggest retail customer is racing to find new owners after recording multi-million pound losses.
News understands that NFT Distribution Holdings, which is based in Derbyshire and employs 1,900 people, is exploring a sale of part or all of its business.
The process, which is being run by PricewaterhouseCoopers, has been running since late last year, according to sources.
NFT plays an important role in Sainsbury's supply chain, transporting frozen and chilled food and drink products around Britain for the retailer.
Accounts for NFT filed at Companies House for the year to September 29, 2018 show it made a loss before tax of nearly £31m.
In a statement, a spokesman for NFT said: "Over the last few months NFT has undertaken a strategic review of its business with a view to addressing some operational challenges and repositioning for the future.
"The company has concluded that it is appropriate to explore what interest may exist in the business.