Carter & Carter, the motor manufacturing training company, has gone into administration and placed the future of its 2,000 employees in doubt.

The move comes after the company was forced to issue three profit warnings in quick succession.

Carter & Carter said: "The lenders have informed the company that this consensual restructuring is no longer considered a viable option by them."

Restructuring talks with Carter & Carter's banks began in October last year after suspending its shares and admitted that it was re-examining the "accuracy" of its accounts.

PricewaterhouseCoopers, Carter & Carter's auditor, was subsequently called in to check on its accounting methods. The publication of the company’s results for the 12 months to July 31, 2007 were delayed and are yet to be published.

In February, Carter & Carter said it had hired Herbert Smith and DLA Piper, the City law firms, to "undertake investigations into the group's operations", before today’s announcement stating "no viable alternative option is available to meet its cash needs in the short term".

The company will now file an intention to appoint an administrator with the courts shortly.

The administrator is likely to be a firm of accountants or other qualified insolvency practitioners who will take over the day-to-day running of the business from the board.

However, it means the company's 2,000 jobs are now at risk.

Carter & Carter relied in large part on funding from the Government's Learning and Skills Council and the Department for Work and Pensions for training young unemployed people and getting long-term unemployed people back to work.

Carter & Carter said it will with the Council, the Government and the administrators "to minimise the effect on learners, clients and employees."

In May, Phillip Carter, 44, its founder and chief executive, was killed in a helicopter crash that also claimed the life of his 17-year old son Andrew.