Perfume factory Eros Laboratories near Lincoln has confirmed it will be going into liquidation at the end of the month.
The factory, which had been facing closure due to rival competition, will close its doors on January 25, meaning 100 workers were made redundant.
The firm had 75 full-time staff and 25 temporary workers.
P&A Partnership from Shefflield had been working closely with the factory’s owners to try to save the laboratory, and are now looking to sell the property.
Jobcentre Plus have been on site offering support to those made redundant and give advice on the next step and benefits.
P&A partner Gareth Rusling said: “Eros Laboratories was a significant local employer and we are doing everything we can to help those made redundant.
“The business had been struggling for some time and had cashflow problems. We have not ruled out finding a buyer and will continue with our efforts to try to sell the business.”
He also advised that other small businesses should take the closure as a warning, and seek help from accountants and professionals when in doubt.
“These are tough times for any business. Sometimes having a fresh pair of eyes on your business can help.
“Critically, the earlier you bring in an expert outside view the better chance of either re-financing or turning around the business.
“The longer you leave it the less likely a rescue can be found.”