The 56 employees were laid off at the end of March and administrators from BDO were appointed on 17 April to shut the Fareham-based business by the end of the month.
"I have had no alternative but to shut down the business,” owner Graham Moyse said. "The cost of fuel has risen to £1,000 a day at a time when budgets and margins are being squeezed. This spiralling cost of fuel affects all businesses like ours because we have no control over it.
"When I laid off my staff at the end of March, it was extremely sad – one of the most emotional days of my 30-year working life. This situation has been forced upon us. Despite every effort through various means, including personal funding, we have failed to keep the business afloat.”
The company had been involved in projects such as a £1.5m adventure playground in St James’ Park for Southampton City Council, laying road lanes and paving at Portsmouth International Port, and creating a car park for the Rowans Hospice.