Mansfield-based construction company Baggaley & Jenkins has gone into administration, with over 30 jobs under threat.
Administrators from accountancy firm RSM Tenon have been called in.
Baggaley & Jenkins underwent a management buyout in 2007. At the time, it was heading for a turnover of £30m and employed more than 200 staff.
However, turnover fell to £10.5m last year, while the number of direct employees shrank to just 33 as the recession took its toll on the firm.
The contractor has no connection to another Mansfield construction company Herbert Baggaley.