At its peak, the company, based at Crimond, between Peterhead and Fraserburgh, employed more than 100 workers.
The company’s owner, former councillor John Gibbins, said his firm had been forced to shut down after a “nightmare” period.
General trading problems were brought to a head when Shell took legal action against the company to recover debts of just over £111,000.
These arose from a double payment to the hirer for work carried out earlier and when the oil company noticed the error, it took immediate steps to reclaim the money.
At the end of May, Mr Gibbins was served with a demand through Peterhead Sheriff Court and given 14 days to pay the money.
After the deadline passed without payment being made, the court ordered the business to be wound up.
Donald McKinnon, an insolvency partner with Glasgow-based firm Wylie and Bisset, was appointed interim liquidator.
Mr Gibbins said: “We’ve had a good relationship with Shell at the St Fergus gas terminal for many years.”
“But there was a problem with a bill that had been overpaid and they came to us demanding money back.”
He added: “I’ve been in business for 30 years but I’ve never seen things as bad as they are now. Everyone in the haulage and construction industry is suffering.”
“On top of that, everyone is competing for the same contracts. Also, our outgoing costs, particularly fuel, have soared.”
A meeting of company creditors will be held in the Station Hotel, Aberdeen, on Wednesday, December 1.