Richard Philpott and Mark Orton from KPMG Restructuring were appointed joint administrators on 6 December.
The family owned company, trading as Bodil Construction, dates back to 1890 and has offices in Linby and Hucknall. KPMG said that in recent months it had suffered severe cash flow difficulties as a result of loss making contracts and the changing dynamics within the construction industry.
Richard Philpott said: "The pressures on contractors in the current climate are immense and we envisage things only getting harder as we enter 2011. Unfortunately, Bodill & Sons had been experiencing cash flow problems for some time ultimately resulting in our appointment.
"Over the course of the next few days we will be assessing whether a number of the remaining contracts can be completed under the administration or transferred to alternative contractors. In the short term we have had to make a number of redundancies in order to stabilise the business.”
Just 24 of the 101 staff have been retained.