Ian Neale Building Contractors is now in the hands of administrator Poppleton & Appleby.
Creditors are believed to be owed more than £750,000.
The firm is part of the Ian Neale Construction Group which has a turnover of £7m and has been trading for more than 20 years.
Only the contracting arm of the group is in administration with the homes, special projects and football side of the business trading as normal.
Joint administrator Martin Coyne told the Coventry Telegraph: “We are dealing with the construction side of the firm, while the rest of the Ian Neale Group, involving divisions for homes and special projects, plus the football club, remains intact.”
“We are in the process of trying to establish the figures involved.
“The building business has assets in the region of £100,000 but the total amount owed to creditors, who include Mr Neale himself, the bank and Revenue and Customs, is around £750,000.
“In common with many other construction businesses, Mr Neale has struggled to find work.
“A reduction in public sector contracts has had a knock-on effect and there is very little private sector work available. This has resulted in a handful of people losing their jobs.”
Neale took over Blue Square league club Nuneaton Town four years ago and his company developed the new stadium at Liberty Way.