BDO Stoy Hayward has been appointed as the administrator for the contractor and said it will wind down the business in the coming months.
Killby & Gayford made a pre-tax profit of £1.9 million in 2010, a drop from the £2.2 million recorded in the year before.
But although it continued to win work, it is understood to have struggled to pay its subcontractors.
The contractor has a history dating back 152 years, and has carried out prestigious projects such as the refurbishment of 10 Downing Street, the restoration of the listed Victorian bandstand on Clapham Common, and the education centre at St Paul's Cathedral.
Enquiries should be made to Danny Dartnaill and Shay Bannon of BDO Stoy Hayward, who were appointed as joint administrators of Killby & Gayford Group and associated companies.