The £5.2m turnover group, which specialises in industrial and architectural steelwork, had cash flow problems after a downturn in workload.
Of the 88 staff, 46 were made redundant following the administration to enable the administrators to keep the companies trading as they seek a buyer.
Paul Dounis and Ken Pattullo of Begbies Traynor were appointed joint administrators of the two companies.
Mr Dounis said: “We are continuing to trade the businesses and continue to provide an on-going service to existing customers that include major contractors. A quick sale will be needed to enable the businesses to continue to win future contracts and maintain sales revenues.
“The businesses hit unresolvable cash shortfalls partly as a result of the slowdown in the market in general, but also as a result of reacting slowly to the downturn. However, both firms have a highly skilled workforce and very strong reputations within the market, and we are confident that their accreditation and solid customer relationships will make the businesses attractive to an acquisitive construction or manufacturing group.
“We are unable to make any guarantees regarding how long jobs will remain viable until we secure a buyer for the firms, but we are making every effort to secure a return for the creditors and secure a future for the businesses and their staff.”
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