Administrators Ernst and Young (EY) said the company, which has a head office in Glasgow and several site offices throughout Scotland, had succumbed to “increasingly competitive” trading conditions.

The firm said 135 people have been made redundant, with ten being kept to assist the administrators.

A total of 249 other employees have transferred to idverde Limited which has snapped up the services, responsive and winter divisions and the company’s interest in contracts at Grangemouth, Craighouse and Quartermile.

Colin Dempster and Andrew Davison of EY’s restructuring team have been appointed joint administrators.

Andrew Davison said: “The market has become increasingly competitive for the company and has impacted on its profitability, particularly in relation to the company’s construction business. Various options have been explored by the directors to address these challenges. Unfortunately none of these options were ultimately successful and the directors therefore took the decision to appoint administrators to help safeguard elements of the business. This has been achieved through the sale we have completed to idverde.”

Mr Davison added: “While it has been possible to save more than 60% of the total jobs through this sale, it is with regret that redundancies had to be made in relation to the remainder of the company’s business. We are doing all that we can to assist these members of staff to make their relevant claims and are providing them with access to impartial advice to help them face the future.”

Land Engineering contributed to the development of the Commonwealth Arena and Sir Chris Hoy Velodrome in Glasgow.