Experts from business advisory firm Quantuma said Surrey-based Vitrine Systems “entered administration as part of the fallout from the ISG administration.”

They added: “This resulted in a large bad debt which effected viability of the company, as well as lost projects and pipeline.”

Vitrine Systems employed a team of 23 staff and all have been made redundant.

Vitrine Systems was founded in 1995 and provided specialist commercial glazing offering design, fabrication, installation and maintenance services. The business reported turnover of £8.8m in 2023.

Quantuma managing director and Joint Administrator Nick Simmonds said: “It is deeply regrettable that Vitrine Systems has been forced to cease trading, due to a series of challenging circumstances. This was a sad ending for a well-established company.

“As Joint Administrators, our immediate priorities have been to provide appropriate support to those whose jobs have been affected whilst seeking to obtain maximum value for the Company’s creditors. To date, the Company’s assets including the Vitrine brand, and a selection of current projects have been acquired, novated and continue to trade as Vitrine Glazing.”