It is reported that administrators were called in late last night to Duncan Adams.
The haulier operates out of premises at Central Dock Road in Grange Dock.
Drivers were said to have been sent home yesterday by bosses.
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Eric Adams, the company’s director, declined to comment this morning and no-one else from the company was available to speak.
The firm was set up by his parents, Duncan and Cathie Adams, in 1960.
It’s website says it is “one of the largest privately-owned transport and distribution companies in Scotland”.
Mr Adams, a popular figure with his workforce who knew him as ‘The Boss’, died in February 2017 and his wife passed away in July last year.
Their daughter is TV and radio personality Kaye Adams.