Trilandium LLP was building the 191-apartment X1 The Landmark scheme for developer X1.
But a dispute between the client and contractor saw Trilandium depart the job last week leaving a raft of specialist contractors with unpaid bills.
The Enquirer has heard from a host of trades owed more than a £1m between them.
Trilandium LLP changed its name to Mnachester Dev One LLP recently and has confirmed its liquidation plans.
In a statement managing partner Russell Baker said: “It is with sadness and despite our best endeavours, that Manchester Dev One LLP have been forced to appoint advisors to assist with the Liquidation of the company.
“The unexpected events that unfolded in November and December, after the significant and unexplained under valuation of works completed on the X1 Landmark scheme, eventually took its toll.
“Despite our best endeavours and numerous requests to the clients agent, they were unwilling to engage in any meaningful dialogue and failed to meet for talks to resolve the issue.
“This problem coincided with other contract payments Trilandium was pursing through adjudications and the combined effect on cash flow ultimately led to Trilandium being unable to continue trading.”
X1 is now negotiating with trade contractors to complete the job which topped out in October.
One specialist said: “They need sign off for warranties on the job which is the only bargaining chip we have in terms of getting our unpaid bills settled.”