One of Lismore's biggest building and construction companies AGS Commercial has gone broke after 29 years in business.

The local implications of AGS Commercial's demise is yet to be fully understood but the company has left a lot of businesses and contractors trying to recover money owed for their services.

The Lismore App understands a painter is owned $80,000, an electrician $200,000 and a concreter $400,000. The implications will be felt not only in Lismore and the Northern Rivers but further afield in NSW as staff look for new jobs and contractors try and recoup whatever money they can through the administrators.

Cameron Crichton and John McInerney were appointed administrators on March 14 under section 436A (A company may, by writing, appoint an administrator of the company if the board has resolved to the effect that: (a) in the opinion of the directors voting for the resolution, the company is insolvent, or is likely to become insolvent at some future time).

The first meeting of the creditors of AGS Commercial will be held next Tuesday, March 26 at 2pm.

The AGS Commercial website says director Simon Booth and his family relocated to Casino from Sydney in 1989 and tracked a progressive path from the Shed & Garage Industry to the Commercial Construction Company.

"Realising a need to service a wider range of construction, with further study and education, AGS attained a ‘Diploma of Building and Construction (Building) CPC50210’. This accomplishment thus enabling AGS to build medium rise buildings and with this new class of license and design/construct methodology, AGS Commercial PTY LTD began to trade in 2014."

It goes on to say that "AGS Commercial has over 100 staff and sub-contractors with an expanded reach that sees us building projects not only in the beautiful Northern Rivers, but also nationwide".

It is a sad end to a well-known local company that will be felt for months to come.

The Lismore spoke to Simon Booth, director AGS Commercial, for a comment. Simon said he will release a statement in the coming weeks.