The Essex-based Kinglea Plants rose to prominence in recent years selling young vegetable plants to garden centres.
A statement from the company said: "Geoff Kinlan and William Turner of BDO Hatfield were appointed receivers of Kinglea Plants on 28 April at the request of directors."
The company has 200 full-time and seasonal employees based at Nazeing, Essex and has 9 other sites in the South East. There will be 9 immediate redundancies.
Geoff Kinlan said: "This is the result of difficult trading conditions. We are continuing to carry on trading the business as usual for the time being, with the support of existing management and key suppliers and customers. We hope to secure offers for the acquisition of all or part of the business and sites."
Subscribe to Horticulture Week for more news, more in-depth features and more technical and market info.