The company has been brought out of administration by its directors after falling victim to the 'Carillion effect'.
The business, which delivers maintenance and refurbishment services along with new build construction, had struggled due to historic debts in the region of £1.6 million.
The firm entered troubled waters when it emerged one of Blue Square's largest customers was a subsidiary of Carillion.
However, a deal brokered by business recovery specialists at Begbies Traynor resulted in the company being sold via administration to its directors on 01 May.
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Established in 1995, Blue Square Building had grown to be a significant business and served clients in the public sector, including local authorities, housing associations and the Ministry of Defence, in addition to commercial customers.
Julie Palmer, Partner at Begbies Traynor, said: "We're delighted to announce that we have been able to save all jobs within the business, which will continue to trade and serve its clients to the high standard to which they have become accustomed.
"The construction industry is experiencing a very difficult period as a result of the collapse of Carillion, which has not only had a knock-on effect on the firm's many suppliers and contractors but also a big impact on confidence in the sector. This has certainly exacerbated Blue Square's debt woes. Working with the directors, we have been able to save the business."
(LM/MH)
