Haulier Duncan Adams Limited has gone into administration with the immediate loss of 132 jobs.
The Grangemouth company with a fleet of around 100 trucks blamed the move on cash flow problems.
Michael Magnay and Clare Boardman of business advisor Deloitte have been appointed as administrators.
Duncan Adams has an annual turnover of around £16 million but had been running up losses due to problems with some client contracts and difficult trading conditions over the past couple of years.
It had 144 employees but only 12 remain as of today. The company said it had tried in vain to find a buyer but had been forced to wind down the business.
The firm was founded in 1961 by Duncan Adams, father of BBC broadcaster Kaye Adams, and he grew it into an international business operating from Grangemouth Docks. Duncan died in February 2017.
Magnay said: “Unfortunately, Duncan Adams Limited, like many in the haulage sector, has encountered difficult trading conditions in recent times. Although it had been hoped that a buyer could be found for the business, regrettably cash flow pressure greatly restricted the time available to explore this.
“Consequently, the director had no alternative than to appoint administrators which has ultimately led to the redundancy of the majority of the company’s staff. This is an extremely difficult time for everyone involved and we are providing our utmost assistance to those affected as well as liaising with the Scottish Government’s Partnership Action for Continuing Employment agency.”
“The joint administrators invite any parties with an interest in acquiring the business or assets of Duncan Adams Limited to contact them on 0121 696 8569.”