The founder and chairman of the Lincoln business Danwood has been suspended along with three other senior directors.
Colin Daniels has been suspended from duties pending an investigation, which also involves Richard Coles, Peter Hopton and David Jones.
Chief executive Stephen Francis said the move was not "directly linked" to internal investigations into "accounting irregularities" at the Whisby Road-based printing equipment supplier.
Mr Francis said the suspensions and investigations were also separate from a 30-day consultation with around 430 sales staff around the country.
The consultation, which started on January 11, could see redundancies at sites including Lincoln.
It follows the dismissal of 35 short service employees as part of a shake up of the business structure.
Danwood has 45 sites across the country and employs around 500 people in Lincoln and Witham St Hughs.
It has around 1,800 employees across the country.