The Big Basement Company targeted the expanding market for building large underground extensions for homes in the capital.
Its collapse means that at least three specialist firms operating in London and the south east have gone under in the last 18 months.
A creditor told the Enquirer: “We are getting fed up with this, it is the second time we have been hit by a basement specialist going down.”
The firm had been building underground living spaces in West London, Hertfordshire and Surrey for the last 10 years.
Administrators from RSM Tenon are handling the affairs of the company.