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After making losses of 3.9m in 2018, 86 members of staff lost their jobs in September 2019.
Antrim-based contractor, Blackbourne, has ceased trading after over 60 years of activity as reported by the BBC.
Specialising in mechanical and electrical engineering and contract maintenance, and set up by Cedric Blackbourne, it has come to a very sad end for all involved.
In its latest accounts the company said its financial performance was below expectations as a result of losses in respect of three major construction contractors.
Last year it reported a £3.9m loss on turnover of almost £25m.
It worked on a number of high-profile contracts including the Obel Tower in Belfast, the Critical Care Unit at the Royal Victoria Hospital and Queen's University Maths Library.
Baker Tilly Mooney Moore is managing the insolvency process.
A spokesperson said: "Baker Tilly Mooney Moore has been engaged to assist Blackbourne Limited with the proposal of a Company Voluntary Arrangement (CVA).
"The company has now ceased trading.
"We continue to work with the relevant stakeholders throughout this process."