Amalgamated Facilities Management is working on a management buyout to make it independent of Garenne Construction.
AFM says an announcement is imminent.
The move follows liquidators being appointed to the parent company Garenne Construction Group over the weekend.
The Garenne Group has offices in Guernsey, Jersey and the UK and its website says it employs 950 people.
It's the parent company and provider of head office functions like HR, IT, and finance to a number of subsidiaries.
The MBO would move the full ownership of AFM in both Guernsey and Jersey away from the troubled Garenne Group.
The offshore facilities management company employs 320 people, and it says that the buyout will provide them with 'the stability they deserve.'
Another Garrene Group subsidiary, Camerons - one of Jersey's largest construction contractors - collapsed at the end of February. It blamed the impacts of the pandemic and Brexit.
One of the appointed liquidators of Garrene Group, KPMG, is urging those with interests to contact them 'immediately'.
"Tropical nights" forecast for the Channel Islands
Les Amis nursing home on track to open this autumn
Candle-lit evening at St Brelade's Bay Beach to remember loved ones
How to have 'safe and enjoyable' Jersey beaches for summer
Appeal after woman grabbed by throat in nightclub
Essential work to begin on Springfield Stadium
Man who dug up cocaine in woods is jailed
Jersey and Guernsey included in UK-Gulf trade deal
