Employees of Levenmouth’s JKF Group face redundancy after the civil engineering firm called in the administrators.
It is understood JKF’s headquarters at Methil docks shut on Friday after the firm hit financial difficulties.
A source from a supplier, who did not want to be named, claimed he was owed money but was not able to get in touch.
“We supply them with materials and for a wee bit now they’ve been due me money,” he said.
“When I phone it’s just ringing out. All the guys got their jotters on Friday.”
JKF Group, which also has premises in Edinburgh, made no comment when contacted on Thursday but confirmed that chartered accountants Johnston Carmichael who also declined to comment had been appointed administrators.
Established in 1971, the company changed its name from James Keiller Fencing in 2003.
It offers civil engineering services including landscaping, fencing, environmental improvements and paving.
Last year, JKF completed a contract as part of Falkirk’s town centre regeneration, and has also carried out roadworks and landscaping in Dunfermline and installed drainage and sprinkler equipment when East Fife’s stadium New Bayview was built in the late 90s.