The move ends weeks of speculation that the Warrington-based firm was in serious financial difficulties.

Deloitte partners Bill Dawson and Dan Butters said they were hoping to salvage 990 jobs from the 1,300 strong workforce by selling three of the group’s main contracts.

Land & Marine, a wholly owned subsidiary of Daniel Contractors that operates in the energy, power and marine sectors, has also been placed into administration.

But Deloitte said it remained hopeful of selling Land & Marine Project Engineering after receiving several expressions of interest from contractors

Deloitte intends to continue to trade two of the three main contracts within Daniel Contractors with a view to agreeing a transfer of the business and employees.

The client on a third contract is understood to have made arrangements to transfer the related business and employees to a third party.

Bill Dawson, Joint Administrator and partner in Deloitte’s restructuring services team, said: “We are in discussions with the key stakeholders and interested parties of the group in an attempt to sell all or parts of the businesses and we will be briefing the employees about the situation.”