Inverness based Roy Homes commenced trading in 1979 and supplies a full design-to-build service for self-build timber homes.
The business is the largest supplier of bespoke homes across the North of Scotland.
Roy Timber Frame Ltd was founded in 2011 and supplied timber frame kits to Roy Homes.
The combined turnover of both businesses to October 2016 was £3.2m.
Administrators at FRP Advisory said the firms’ failure was caused by serious cash flow problems.
As a result, both companies have ceased trading and all staff have been made redundant with immediate effect.
The joint administrators are offering the assets and goodwill for sale, which include a handful of live projects.
Joint administrator Iain Fraser said: “The Roy Homes brand is a well-known across Scotland, and is highly regarded for the quality of designs, construction and full service package.
“Unfortunately, the businesses ran into severe financial problems and administration was the only option.
“The self-build market is expanding rapidly across the UK and we are hopeful that there will be strong interest in the assets of these well-known businesses. We would ask that interested parties contact the Aberdeen office of FRP Advisory.”