Protec's work on the Millennium Village, the flagship project for John Prescott's Sustainable Communities Plan, involved installing cladding unique to the UK on the development's four-storey apartments.
The developer for the scheme, a joint venture between Countryside Properties and Taylor Woodrow called Countryside in Partnership, has assumed direct control of the cladding, with three managers from Protec Industrial staying on to complete the work.
Protec Industrial director Jim Whiteside confirmed that the firm had gone into voluntary liquidation. He will meet with the liquidators, Smith & Williamson, at a creditors' meeting on 21 January.
Protec's abbreviated balance sheet of 31 March 2003 showed fixed assets of £145,633 but debts owed to creditors of £391,768. The company employed 40 people.
Adrian Putnam, development director for Greenwich Millennium Village, confirmed that Countryside in Partnership would be doing the cladding work itself, and added that it did not at this stage expect Protec's liquidation to markedly affect the delivery date of the work.
He said: "We understand Protec is no longer in business. We are working to resolve any issues that might arise from rescheduling of work."