The directors say they were unable to salvage the business despite intensive efforts, following the liquidation of parent company Garenne Construction.
The commercial vehicle company's directors have confirmed the business has ceased to trade with immediate effect after a buyout bid failed.
They tried to buy the company from the liquidators of Garenne Construction.
Most of the 22 employees have been made redundant, with a small number kept behind to help close the business.
Earlier this month, Rabeys in Guernsey closed after following Garenne Construction's collapse in late March.
A spokesperson for Rabeys Universal Limited says this is an incredibly sad outcome:
"In recent days, the management team has worked tirelessly to find a solution to the challenges facing our business, including holding intensive discussions with potential investors."
"However, the impact of the insolvency of our Guernsey business, coupled with the issues facing the wider group, meant that we were unable to find a way forward, and we had no option but to take the difficult decision to close."
"We’d like to thank our employees, customers and suppliers for all their support and goodwill over the years."
Rabeys has been trading in Jersey for more than 50 years.
Politician calls for Havre des Pas lido tender process to be scrapped
Two Jersey rowers make Team GB
Jersey's rate of inflation rises slightly over summer
Committee calls for Deputy Philip Ozouf's suspension
Baby sloth at Jersey Zoo orphaned as mother unexpectedly dies
DFDS contract reveals termination clause and performance penalties
French racing trimaran winched ashore off Guernsey
Ballet d’Jèrri returns to Opera House tonight
