Coventry-based fabricator Midland Steel Structures has called in the administrators after a sharp fall in orders.
Most of its workforce – 45 people – have lost their jobs.
The firm has retained 15 workers to complete existing contracts.
Insolvency specialist Poppleton and Appleby has been appointed to run the business, and is currently in negotiations with the company’s main clients.
Administrator Andrew Turpin said: “The company appears to have suffered a severe drop in orders due to the downturn in the property market and public sector cuts which have hit expected building programmes.
“We are currently working with the management to fully assess the company’s situation and to decide what steps to take.”
Midland Steel Structures was founded in 1979 and worked across the health, education, commercial, leisure, and industrial sectors.