RSM Restructuring Advisory have been appointed administrators of the Pontefract-based firm, which was working in nine sites in the Yorkshire region.
More than 25 staff have lost their jobs at the firm which was established 15 years ago.
The decision to call in RSM comes as the firm said just six months ago it was on track to hit £70m revenue this year, up from £27m in last published accounts for October 2021.
Jamie Miller, RSM Restructuring Advisory partner and joint administrator, said: “The company has been faced with a combination of significant financial challenges, in particular the spiralling costs of raw materials and an inability to pass these on to customers due to fixed price contracts.
“Despite the best efforts of the management team, the accumulated losses from these contracts have unfortunately led to the ultimate cessation of trade of the company. This is another example of the wide-ranging challenges facing the construction sector at present.
“The joint administrators and the directors are trying to work with customers to ensure a smooth handover of the existing sites to alternative contractors.”