Abingdon-based AP Thompson Sports Engineering Ltd has ceased trading after a buyer could not be found for the business.
Begbies Traynor were appointed administrators earlier this year, and say “significant attempts were made” to sell the business as a going concern, but the lack of success meant the business had to be closed.
In operation since 1997, the firm designed and built sports grounds, with expertise in synthetic surfaces.
They had completed 200 projects on a range of sports including football, rugby, hockey, athletics and tennis.
Although the business was profitable, three “onerous” projects in 2011 impacted profitability and the firm was “unable to trade out of the situation” according to Begbies Traynor partner Simon Haskew.
Mr Haskew said: “With growing turnover and profit the business was performing well, but as we see so often in the construction sector, failure of other businesses and dependence on outside contractors inflicted heavy losses on the business, which they were unable to recover from.
“While some sectors of construction are faring better than others, it is generally a challenging market in which to operate. Despite establishing a strong niche, and having a growing business, AP Thompson lost control of some key contracts and the result for the business was eventual closure.
“Continued impetus into the construction sector form both local and national government is needed to avoid the failure of more businesses and further job losses.”