Maintenance and technical services contractor General Building Maintenance has gone into administration owing a reported £1.5m.
The £18m-turnover company, which worked for local authorities and insurance firms, called in receiver Grant Thornton on 7 June.
The move is a dramatic change in the firm's fortunes. Only last year, Terry Cheshire, the founder and chief executive, predicted strong growth in his annual report.
The firm, which employed 238 staff, won maintenance contracts from 14 London councils.
After moving into the insurance sector three years ago, it signed deals with 15 insurance companies, the biggest with Royal and Sun Alliance.
