Accountants and insolvency practitioners from Ernst & Young were appointed on Monday after the company ran into financial difficulty. It is understood up to 160 jobs have been lost.
In a statement, the Group said: "The business has been under considerable pressure for a number of years. Demand in our traditional construction market has been very weak since 2012 and margins have been significantly reduced.
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"In the recent past, the collapse of the Oil & Gas sector has applied further pressure. This has meant that the business has been loss making and under cash pressure.
"This is a very sad day for a long-established Dundee company and our thoughts and best wishes are with the employees and creditors of the business."
(LM/MH)
