The 100-plus workforce was laid off on Tuesday (20th November).
The company was founded in 1922 by John Henry Hallam, the grandfather of the current chairman Richard Hallam, who is one of four Hallams at the head of the company.
Live projects include an £11m student accommodation building on Alma Street in Coventry.
In May Hallam won the National Federation of Builders 2012 refurbishment of the year award for its work converting old Leicester Grammar School buildings into offices.
Construction union Ucatt blamed the company’s downfall on government infrastructure spending cuts. Midlands regional secretary Cheryl Pidgeon said: “This is a bitter kick in the teeth for the workers at Hallam Contracts. Construction workers have lost their jobs in the run up to Christmas, this affects them and their families as well as the supply chain. This company has gone out of business directly as a result of government cuts which are starving the industry of funding.”
She added: “Ucatt will be doing all it can to ensure that our members receive what they are financially entitled to. If Ucatt members haven’t been contacted by union they need to contact the regional office.”