Alan Bloom, who handled the Railtrack administration, along with Hunter Kelly and Mike Rollings from Ernst & Young were appointed joint administrators.
The company employs 220 people and the administrators have confirmed that all will receive their wages.
An intensive marketing exercise is now underway to try and secure a going concern sale of the colliery.
Hunter Kelly said the administrators were hopeful a purchaser would come forward in the short term.
Kelly said despite the production problems, the mine has substantial coal reserves accessible via other coal faces and plan exists to gain access to these reserves.
‘The government has announced support from the Coal Investment Aid Scheme and Hatfield has conditional approval for support of £15m,’ Kelly added.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children