Parent Superior Energy Services has decided to close Hallin and its employees are being made redundant.
It is understood that the business will be wound down gradually and staff will be laid off over a period of time.
Superior put Hallin up for sale in the second quarter this year but this week’s action implies no successful offer was made.
Hallin operates vessels such as the Ullswater and Carlisle, the flagship dive support vessel Windermere, saturation and diving systems, and remotely operated support vessel Kendal.