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.
Fort Regent vision 'was never matched' by a budget that could deliver it, says JHA
Buzzing! Bears and Bees coming to Jersey
JCG Year 7 Choir learn and perform wartime song
Gas bills to go up by 5% in December
Second memorial plaque vandalised at Millennium Park
'They got our hopes up': Young islanders disappointed as Fort Regent plans stall
Electricity prices in Jersey to rise by 2.5%
Minister says he has been 'slated' and his family taken 'abusive' phone-calls over economic growth comments
