The firm’s production and fabrication division Red Aluminium is also now in the hands of administrators from Deloitte.

Red’s existing contracts are expected to be traded-out within weeks as the business is wound-down. More than 50 jobs are believed to be at risk.

A Deloitte spokeswoman said: “Deloitte has been appointed as administrator to Red Architectural Ltd and Red Aluminium Ltd.

“We are currently advising staff and customers, and will provide further information in due course.

“However, at this stage we do anticipate that trading out existing contracts will be short term only prior to an orderly wind down of the business.”

Red has worked with a host of main contractors including Mace, Bowmer & Kirkland,Balfour Beatty, Carillion and Wates.

Latest results show the company had a turnover of £29.7m for the year to March 2013 when it made a pre-tax profit of £47,000.

Construction credit reference agency Top Service said it had received reports from 14 firms recently experiencing problems getting paid by Red.

Louisa Morgan, Operations Manager: ”It is our insider intelligence that resulted in us monitoring the company carefully over the last few months.

“There were no other warning signs.  Being able to provide our customers with a early warning resulted in us being able to collect some accounts for them before it was too late”