Thousands of subcontractors will be left out of pocket following the downfall of another major construction company..

Arrow International has been placed in voluntary administration after a contractual dispute left it with insufficient cash flow to meet operating costs.

The announcement follows the collapse of Ebert Construction and Corbel Construction last year.

Civil Contractors New Zealand Chief Executive Peter Silcock told Mike Hosking it leaves behind a lot of uncertainty.

"Both about the work they've done, getting paid for that, but also going forward are the sites going to be available to work on [and] are they going to finish the projects."

Stonewood Group co-owner Michael Chow has already contacted administrators expressing interest in all Arrow projects.