Bernard Matthews, Europe's largest turkey producer, has begun hunting a new owner amid a turbulent period which has seen delays to supplier payments.
Sky News has learnt that Rutland Partners, which has owned the company since 2013, has appointed advisers at PricewaterhouseCoopers (PwC) to sound out prospective buyers.
Bernard Matthews - best-known for its 'Bootiful' advertising catchphrase - is named after its founder, who in 1950 set up the business by buying 20 eggs and a second-hand incubator.
He sold the dozen turkeys which hatched to a local farmer for the equivalent of £9 in today's money.
The company has grown beyond all recognition since then, and now operates across 50 farms and breeds, raises and processes more than seven million turkeys in the UK annually.
Its financial fortunes have fluctuated, however, and the company has been dogged by persistent speculation about its future as well as criticism from the likes of Jamie Oliver, about the nutritional content of its Turkey Twizzler products.
Last year's accounts show that in the year to 28 June 2015 sales fell to £276.8m from £306.8m during the previous 12 months.
It made an operating loss last year of close to £1m, and its directors said that investors including Rutland had injected an additional £10m of funding in August 2015.
"With the investment by Rutland and the renewal of the secured lending facility through to August 2018 the directors are of the opinion that the group has sufficient funds to meet its liabilities as they fall due and have prepared the financial statements on a going concern basis," the accounts said.
"The directors have received information from the parent company, Bernard Matthews Holdings Limited, of its intention to financially support the company such that the company can meet its obligations as the fall due for a period of at least 12 months."
A report in The Sunday Telegraph last month said the company had made dozens of staff redundant and was exploring the sale of some of its land-holdings in an attempt to raise cash.
Rutland declined to comment on Wednesday.
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