The electrical contracting firm forms part of the Wessex group of companies operating from a head office in Shaftesbury and a hub office near Bournemouth.
The original business was set up by electrician Tony Morgan over 50 years ago becoming Wessex Electricals in 1973.
A past president of trade body the Electrical Contractors Association, Morgan created a group structure with main operating businesses.
The group, which employed nearly 400 staff, focuses on M&E contracting, the installation and maintenance of fire security and emergency systems and the sale and installation of renewable energy technology.
Morgan stepped down in 2006, formally passing the baton to his two sons Simon and Alistair.
After reaching peak turnover of over £40m in 2017, falling solar revenue and troubles on major M&E projects hit performance.
Last year revenue fell to £30m with losses on projects at Wessex Building Services dragging the rest of the group into a near £675,000 loss.
The rest of the group businesses – Wessex Electricals and Wessex Fire & Security – continue to trade normally.
A spokesman for insolvency specialist RSM said: “Two members have staff have been retained by the administrators in order to assist with the orderly wind down of the business.”