Late yesterday KordaMentha's Cassandra Mathews, Martin Madden and Robert Hutson were appointed as liquidators of the company.

The company placed itself into voluntary administration in September, and one day later major secured creditor GE Commercial Corporation put Quentin Olde and John Park of FTI Consulting in as receivers and managers.

The company, which had been active in Queensland's coal, LNG and CSG sectors, ran into problems with one of its customers, Vale's Eagle Downs coal mine following an "ignition" event, and with losses mounting it seems the receivers were unable to plot a course to recovery, and WDS will be consigned to the history books.

There was a talk about attempting to sell the business to some interested party, but those hopes likely faded with the end of the LNG construction boom and ongoing low coal prices.

The concern had worked at all three of the Queensland CSG-LNG developments, including Australia Pacific LNG where it had only just finalised a contract dispute, and in mid-2015 it secured a $60 million Shell's Daandine domestic CSG project and an award of a contract for the Wilton metering facility upgrade in NSW for Jemena.

It has also worked for a range of coal miners in recent years, including Glencore, Yancoal and South32.

Last July it warned of a larger loss than expected for the 2014-15 fiscal year because of the slower-than-expected ramp up of a short term contract that commenced in February.

At the time its loss was projected to be $14-15 million and as its debts were mounting Vale decided to cash in an insurance bond for $14.2 million that left WDS with even bigger liabilities.

It breached a covenant on the debt it owed to GE, and that was the end of WDS.

The Brisbane-based firm is just the latest in a series of high-profile collapses for services firms, which kicked off with the failure of Western Australian company Forge.

The last high profile collapse was drilling, services and accommodation concern Titan Energy Services.