The Spalding based firm is now in the hands of administrator Zolfo Cooper and 98 of the firm’s 116 staff have been laid off.

D A Green has a structural and cladding arm operating from its fabrication plant in Whaplode which covers more than 150,000 square feet.

Green has been in business since 1954 and is a member of the British Constructional Steelwork Association but has been struggling financially for the last six months.

The administrators are currently meeting with clients in a bid to find the best way forward for the firm.

Ryan Grant, Partner, Zolfo Cooper said: “Unfortunately, the business has experienced severe cash flow difficulties, which combined with a tough trading environment has led to the need for Administration.

“We regret that we were left with no choice but to lay off the majority of the workforce, however we would like to take this opportunity to thank all staff for their patience and continued professionalism during what has been an intensely difficult period.”

“There are a number of contracts for work outstanding and we are examining all possible options with regards the future of the business.”

The sector has been rocked by a string of failures this year including Royden Engineering which was then saved by its management and Midland Steel Structures.

Sector giant Severfield Rowen believes the coming months will see significant rationalisation in the market.

Tom Haughey, Severfield chief executive officer, said: “The UK structural steelwork sector is now likely to see substantial rationalisation in the next 12 months, leading ultimately to a more balanced supply/demand equation.”