8 December 2011 Last updated at 13:24
Western Isles-based company Macaskill Haulage has been placed into provisional liquidation, according to accountancy firm KPMG.
Forty-four employees were made redundant on Wednesday leaving a handful to help the liquidators.
KPMG was called in by company owner Derick Murray after trading losses rose to “unsustainable levels”.
Based in Stornoway, the haulier has depots in South Uist, Inverness and Glasgow.
Macaskill Haulage was started by Colin Macaskill in Stornoway about 40 years ago and was bought by then Harris Tweed mill owner Derick Murray in 2001.
The company specialised in transporting refrigerated goods and had contracts with salmon farming companies and local supermarket branches.
Jobs go at islands haulage firm