The firm, which was originally called Horwich Steelworks, was bought seven years ago by Eiffel UK, a subsidiary of the French giant Eiffage Construction Métallique, part of the Eiffage Group.

Alarm bells sounded last week when worried subcontractors spoke to the Enquirer after they were unable to contact the Wigan firm.

Late on Monday Matthew Dunham & Adam Henry Stephens from accountants Smith & Williamson were appointed joint administrators.

Eiffel Steelworks’ core business was as a manufacturing service for major players like Severfield and William Hare. More recently it branched out in its own right to win orders directly.

It secured several landmark projects including jobs at Canary Wharf, the Olympic Stadium and roof trusses for terminal two at Heathrow.

But the last accounts reveal that Eiffel lost its way last year suffering a £1.3m loss on turnover which slumped 60% to around £1m.

This left the firm with net liabilities of £4.2m at the end of 2013, and reliant on the French steelwork giant to support the business.

Dunham said: “Eiffel Steelworks is a well-respected business which has been adversely impacted by difficult market conditions. It has significant levels of work in the pipeline and a highly skilled workforce.

“We are working in conjunction with all key stakeholders to try and save the business and identify a suitable purchaser in order to sell it as a going concern.”