Fife offshore fabrication firm BiFab is reportedly close to calling in administrators.
The firm has a 600-strong workforce across three sites in Burntisland, Methil and the Isle of Lewis.
It has been reported by the BBC that the company has experienced cash flow problems linked to a contract for the Beatrice offshore wind farm in the Moray Firth.
And it is understood BiFab has filed court papers with the intention of going into administration.
BiFab used to employ a workforce of 2,500 but this was reduced significantly two years ago.
However, last year BiFab’s prospects looked brighter when the company was awarded a £100 million contract to manufacture subsea structures for the Beatrice Offshore Windfarm Development in the Moray Firth.
It was hoped the contract would protect 200 jobs until the completion date of 2018.