An award-winning regional contractor, the building firm operated across the South West working on social and affordable housing for local authorities and housing associations.

D B Russell Construction as the firm is formally known was established in 1985 and underwent a change of ownership in 2008.

Debt accrued during the takeover is understood to have led to the Clevedon builder’s current problems, exacerbated by fiercely competitive trading conditions.

The firm is thought to owe £900,000 to subcontractors, £370,000 to suppliers and £620,000 to banks.

As well as housing, Russell Construction was also involved in commercial development and education projects typically valued up to £3m.

It was a passionate advocate of Latham and Egan principles of non adversarial partnership working, a philosophy that helped the builder pick up several national accolades as an exemplary regional contractor.

Administrator Tim Ball, partner at accountants Mazars, is now looking for a buyer for the business, which collapsed on Wednesday.

Ball said: “It is very sad to see an independent company fail in this way and it is very much hoped that a buyer can be found for the benefit of its customer base and its creditors.”