Welsh contractor Contract Services has called in liquidators, with 102 staff set to lose their jobs.
The Port Talbot-based firm was established in 1996 and posted turnover for 2016 of £11m.
The company ceased trading on 11 August and will enter voluntary liquidation on 22 August. It employed 102 workers, including apprentices and trainees.
Begbies Traynor has been appointed as liquidator.
It said the company had reached agreement in principle to obtain funding from parties including the Welsh Government that would have enabled it to continue trading.
However, it was unable to raise the total amount of funding required in time to stave off liquidation.
Huw Powell, partner at Begbies Traynor’s Swansea and Cardiff offices, said: “It is disappointing to see a leading Welsh business have to close its doors in this way after many years of successful trading, particularly one that prided itself on supporting a local SME supply chain, the communities it worked in and its employees through training and being an early adopter of the living wage.
“We will be writing to all creditors over the course of the next few days with details of the liquidation process.”
Among the firm’s clients listed on its website include Bouygues and Interserve, as well as Newport City Council and Mitie.