The CFMEU will do everything within its power to ensure that 50 Gunns workers employed at the company's Launceston site are paid their full entitlements either by the administrator or Gunns' bank, the ANZ, following yesterday's decision to put the company into administration.

45 of the 50 employees were due to be made redundant and begin receiving payments this Friday. The Union is concerned that the September 25 decision could put those entitlements at risk.

"Some of these employees have been with the company for decades, sticking with Gunns through thick and thin," CFMEU National Secretary, Michael O'Connor said.

"These workers should be the company's top priority. We expect either the Administrator or the ANZ to ensure they are immediately paid their entitlements.

"If the Administrator or the ANZ attempt to avoid their obligations we will hold them to account and fight to ensure employee entitlements come first."

The Union remains hopeful that a buyer can be found for the Gunns Bell Bay site in Tasmania, where about 120 workers are employed  nd for the Tarpeena sawmill, north of Mt Gambier in South Australia which has 200 employees.

"Both Bell Bay and Tarpeena are a going concern and the Administrator needs to do everything possible to keep these sites running until a buyer can be found," Mr O'Connor said.

"It's crucially important that the Administrator and ANZ sit down with the CFMEU to ensure every avenue is explored to keep these jobs viable."