DJ Broady workers have been on reduced hours since December but were told last week they would be made redundant.
The management of the firm, which was established in 1947, gave in trying to run the business and called in administrators at the beginning of this week.
The firm’s sister company Robin Concrete is still trading.
The company has been involved in the demolition of some high-profile buildings, including the Boulevard stadium in west Hull, and Pepi’s bar on Hull Marina.