The future running of a Hovis Bakery distribution depot in Inverness is being reviewed by parent company Premier Foods.
The site at the Longman Industrial Estate employs 38 people.
For sale signs have been placed on the building, but management said no decision has been taken to close the depot.
Premier Foods said it was looking at various options to achieve savings and increase efficiency.
Options include whether another operator might be able to use more of the available capacity at the site.
Premier Foods said it intended to retain its presence in the region.