Landmark White is running out of cash following its second suspension by the majority of its lender clients, and the troubled valuation firm has told staff it is considering a sale of "the whole or parts" of the business.

Reinstatement by its major lenders was not likely "immediately" and, having used up a significant portion of its cash reserve during its first suspension, which led to a near three-month halt in trading of its shares, the second suspension was having "a major impact on the business and its viability", acting chief executive Tim Rabbitt told staff in an email on Thursday.