The business was founded in 1979 and has supplied handmade curtains, blinds, pelmets, cushions and soft furnishings to some of Scotland's best hotels including Turnberry, Gleneagles and the Caledonian Waldorf Astoria and Balmoral in Edinburgh.
It also worked in the public sector, had private clients, manufactured stage curtains for theatres and operated an upholstery repair services.
However, in recent years it has racked up large losses, with the most recent accounts showing a retained loss of £447,446 while shareholders funds were also in negative territory at £277,446.
Those accounts said the business was funded by loans from directors Alexander and Susan Campbell and support from RBS. The annual return from June 2012 shows Mr Campbell as the majority shareholder of the company.
In spite of the support of its directors, the business, based in Alva, Clackmannanshire, was put into liquidation earlier this month and all staff were made redundant. Tom MacLennan from RSM Tenon in Edinburgh was appointed as the provisional liquidator.
He said: "The shareholders and directors had injected a lot to keep it afloat over the ppast couple of years. The accounts for the last year of trading and the period before that show significant losses."
Mr MacLennan said Campbell's had a turnover of around £1.2 million and was
owed around £100,000 from its customers.
Now he is trying to sell the assets of the business and has had some expressions of interest. He added: "We have got a couple of parties who are interested in buying the assets and starting up the business again but on a far smaller scale. However, there is no definite proposal."
Campbell's can trace its history back to the 19th century and had grown out of a draper's shop in Alloa.
Alva and the surrounding villages were once thriving textile providers, with mills powered by the burn flowing down from the Ochil Hills. Campbell's is thought to be the last surviving textiles business from the Hillfoots area.