Maurice Stevenson Limited, a family-owned firm, is based in the Annesborough Industrial Estate and employs around 33 staff members.
Mrs Alison Stevenson said: “It is with the deepest of regret that we find ourselves having to place the company into administration.
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"I want to pay a heartfelt tribute to current and former staff who have worked hard and demonstrated immense loyalty to this firm and our family down through the years.”
Upper Bann DUP candidate Carla Lockhart said the news is "deeply regrettable".
She said: "The family run business gave many local people employment over the years and they too will be saddened by this news. I have spoken many times with the company and will continue to liaise with them on this issue.
"My thoughts are with those currently employed by the Lurgan based company, who are now faced with the prospect of unemployment and for the owners of the company who are going through this difficult time."
(CD/MH)
