The company had been in business for 27 years and liquidators PKF has let 17 staff go.
The firm was established in Ayr in 1985 by John and Frances McCaig and employed 50 staff at its peak.
Frances McCaig told the Ayrshire Post: “Due to a number of significant issues with main contractors related to sums of monies due to us and time frames of these payments, it is with deep regret that it has become impossible for us to continue trading.
“Due to these severe cash flow problems we sought advice from accountants PKF and took steps to enter the company into liquidation.
“Any small to medium sized business owners out there working in the construction trade will identify immediately with us when we say that the construction industry is on its knees.
“Being based in Ayr it has allowed us to employ local people over the past 27 years and also to use local suppliers.
“We have also brought many apprentices through their trade and this in some cases has enabled them to start their own businesses and in turn yet again employ local people.
“In recent times it has become more difficult to agree valuations with main contractors and that, in turn, puts severe pressure on cash flow.
“We were working harder than we have ever worked, however, no matter how hard you work if you don’t receive payments on time then all your hard work is fruitless.
“This was the last thing we wanted but unfortunately we had no other viable option.
“Many of our staff had been with us for over 10 years and John and I are both devastated that they have lost their jobs.”