The Worcestershire based company is one of the UK’s leading suppliers of agricultural goods, employs more than 700 people and has 48 stores.
Administrators have been appointed from KPMG, who said no “initial redundancies” had been made.
Countrywide directors said with “significant regret” the business faces “a very uncertain future”.
The company, based in Evesham, closed 14 stores a year ago and announced plans to sell the remaining 53 to Mole Valley Farmers Ltd, but this could not be approved and the Competition and Markets Authority (CMA) announced an investigation.
Countrywide announced it was going into administration as the CMA investigation could last up to six months, and the company said it will be “unable to meet its financial obligations for this extended period of time”.