Perth-based civil engineering contractor Clachan Construction has gone into receivership, with most of its workforce likely to be made redundant.
The firm operates across sites in central Scotland, including Longannet Power Station, and employs 150 people.
Henderson Loggie has been appointed as Clachan's receivers.
A statement from joint receiver Claire Middlebrook said: "The directors of Clachan Construction asked the Bank of Scotland to appoint receivers for the business on Tuesday at 6pm.
"Unfortunately it looks like most, if not all, of the company's workforce will be made redundant."
Clachan Construction reported a turnover of £18.1m in 2009, and pre-tax profit of £240,000.