Canberra Mushrooms, based in Yass, called in administrators in April. A spokesman for administrator Eddie Senator would not say how much money was owed.
"This is sensitive information at this stage. We have a 'care and maintenance' plan in place to achieve continuity of the business while an expression of interest campaign is explored," the spokesman said.
The farm itself has been operating for 25 years, and trading for eight years as Canberra Mushrooms. It employs 16 staff.
An advertisement seeking urgent expressions of interest offers large commercial premises suitable for multiple purposes and 16 hectares freehold property. Offers close on May 29.
Canberra Mushrooms produces between five and eight tonnes of mushrooms a week for the majority of supermarkets, cafes and restaurants in the ACT and surrounding regions.
A number of issues were dragging on the operation, mainly poor profitability, the spokesman said.
"We've received good interest, [to buy the business] the result will largely depend on what is in the expression of interests," the spokesman said.
