The Wokingham-based fit-out firm worked across the country on commercial and leisure projects operating out of six offices spread across the south.
Over the past five years it saw a steady increase in work at UK airports and set up a dedicated team to carry out this specialist service.
Airport projects last year delivered a record £3.5m to group turnover with Heathrow’s T3 check-in topping out at over £2m.
But the company became involved in a contractual dispute, which resulted in a £2m loss – the first in its 15-year trading history.
In March Advanced Interiors warned that the problem contracts had put pressure on cash flow but the firm had the support of its banks. This was withdrawn last week.
Around 24 staff are understood to have lost their jobs.
Joint administrators Richard Hawes and Julia Branson of Deloitte now manage the affairs of the business.