The company has been hit hard by a drop in public sector work as contracts with local authorities across the region dried-up.
Image Styles has been trading since 1982 specialising in maintenance, refurbishment, general building works, painting, insulation, plastering and floor and roof screeding.
The firm has three subsidiary companies – Image Styles Property Services, which has seen nine redundancies, Image Styles Insulations, where 28 posts have gone, and Image Styles Decorating, which has lost 34 staff.
The group employed 95 people leaving a skeleton staff while administrator RSM Tenon look for potential buyers.
Administrator Bev Marsh of RSM Tenon said: “We immediately instructed a firm of quantity surveyors to assist us in reviewing outstanding Image Styles contracts to see if the customers were willing to continue the contracts under administration.
“Unfortunately, after looking through the outstanding contracts and carrying out a complete overview, we felt that this wouldn’t be possible.
“We are also looking for interested parties who would be able to take over the business and assets of the group.
“This is a well known company with a good reputation, a family-owned business which has being operating for many years. It is very unfortunate, but Image Styles has been a victim of the times.
“Affected by the drop in public sector work and the recession, Image Styles is one of many companies affected in the downturn.
“We are currently working with interested parties of Image Styles Decorating and it is hoped that this business can continue in some form.”