The Aberdeenshire based modular building specialist has supplied bathrooms to the Olympic Village from its prefab factory in the Czech Republic.
Administrators Blair Nimmo and Gary Fraser of accounting firm KPMG were appointed yesterday at the request of the directors for RB Farquhar Holdings and three of its subsidiary companies.
The family-owned company, based in Huntly, blamed the construction downturn and an unsuccessful expansion in the Middle East for its downfall.
The administrators said both the storage and hire businesses, which provide a range of temporary accommodation solutions such as offices and classrooms, site offices, canteens, changing rooms, toilets for construction sites and collectively employ 81 staff, will continue to trade as normal.
They said no redundancies were anticipated in these units while the businesses were marketed for sale.
None of the 31 staff employed in the manufacturing business and holding company were immediately made redundant but their position was “currently being reviewed”.
In 2008, the company opened a factory in the United Arab Emirates as part of an ambitious plan to grow in the Middle East.
Nimmo said: “RB Farquhar is an established Scottish business which is well-known in the north-east of Scotland.
“Both the hire and self-storage businesses are well-placed in the market and both are expected to grow in the years ahead.
“Both businesses are strong and generating healthy levels of cash. I am very hopeful of achieving sales of both businesses in the near future.”