Northern Ireland based specialist the Joseph Hughes Group is now in the hands of administrators from Pwc who have layed off all the staff and ceased trading.
Hughes was a major subcontractor to the Patton Group which went into administration last month owing trade creditors an estimated £17m.
Joseph Hughes Painting Contractors worked across the UK including prestigious jobs like the Dorchester Hotel.
Joint Administrator, Stephen Cave said: “The Group has suffered growing cashflow difficulties as a direct result of the downturn in the construction sector.
“A Company Voluntary Arrangement was already in place, but the collapse of Pattons has made the Group’s position untenable and it can no longer continue to trade.
“We regret that we have this morning, advised the workforce that all 147 of staff will be made redundant, with immediate effect.
“This is another severe blow to the construction sector and is particularly difficult for the workforce so close to Christmas.”