The company which owns iconic Australian brand Rosella has gone into receivership.
Food manufacturer Gourmet Food Holdings and Waterwheel is looking for a buyer.
Rosella, based in Sydney's Seven Hills, was established in 1895.
It supplies a range of condiments including pickled vegetables, soups, sauces and relishes.
It contract packs for major retailers across Australia and Asia.
Gourmet Food Holdings also controls food companies Pitango and Waterwheel at Dandenong in Victoria.
A statement from receivers Ferrier Hodgson says the move comes after the company was put into voluntary administration on the 30th November.
Eighty workers at Seven Hills in Sydney are affected, and more across the group.
Union officials will be on site this afternoon to discuss their position.
At the start of the year the group had been talking about exciting new developments.
This latest news has come as a shock.
Ferrier Hodgson is now looking for a buyer, and there is the potential that the group is broken up.