Despite making a pre-tax profit of £7.6m in the year to 30th September 2018 on £142m revenue, Shaylor Group filed a notice of intention to appoint administrators on 6th June.
According to the Birmingham Mail, local subcontractors have been told to stay away "until further notice" and phones are going unanswered.
It is understood that cashflow has been hit by project delays and payment disputes with clients.
The family-run company, based in Walsall, had grown quickly in recent years; in the year to September 2015 its turnover was just £81m, meaning 75% growth in just three years.
Fred Shaylor, who set the company up in 1970, died in 2013. His children Stephen Shaylor (aged 50), Richie Shaylor (46) and Lana Shaylor (31) now own and manage the business.