Administrator Begbies Traynor said the plant hirer and civil engineering contractor is continuining to trade, and that it would attempt to sell the business as a going concern.
The admininstrator said it was in discussion with creditors, but did not yet know the level of creditor debt.
Greyhound Plant Services was formed in 1982 and has a turnover of approximately ВЈ20m a year.
Its main areas of operation are plant hire, civil engineering, training, and plant sales.
Greyhound, which has a 450-strong plant fleet, hires kit across the UK and Europe.
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