Essex contractor Dorval Construction has called in the administrators after becoming a victim of the economic slowdown and reduced public spending.
Nineteen of the firm's workers have been laid off, according to Business Sale Report.
Based in Tolleshunt Knights, near Maldon, Dorval worked across Suffolk, Essex, and north-east London, and had been in existence for 23 years.
Joint administrator at PKF, David Merrygold, said the contractor had “no future, which is typical of the construction industry at the moment”.
Work was suspended on two schools which Dorval was working on, the Newport Free Grammar School in Saffron Walden, and Alton Park Primary Schoolin Clacton-on-Sea.
The company had also been working on two housing projects, a bakery, and an alms house.