The company was commonly known as Baker Construction and had been in business at its Bury St Edmonds base for more than 50 years.
PricewaterhouseCoopers were appointed as administrators after the company was hit by a lack of work and intense competition for contracts.
Baker specialised in affordable housing developments, commercial property and listed buildings.
Owner Robert Baker said on the company’s website: “My grandfather built his first property in the early 1950’s, at the time I am sure he never dreamed he was laying the foundations of a family business that would grow to become one of the leading construction groups in the region.
“The modern world is a very different place to that in which my grandfather founded the business, but at Baker Construction, one thing remains the same – our total commitment to our partners and customers. It is the cornerstone of our success and the key to our future.”
PwC said: “The company has suffered significant losses in the recent past and is unlikely to have a foreseeable future.”
At the firm’s peak in 2010, it had a turnover of £10m and employed 70 staff.