A home building company that at one stage sponsored the St Kilda Football team, Watersun Homes, has gone into administration with the loss of 90 jobs.

The residential builder was working on about 300 homes in metro Melbourne and regional Victoria when it was voluntarily placed in administration on Tuesday.

The firm had insufficient funds to continue trading. Its website failed to load and phone calls were not returned.

Watersun appointed administrators Neil Mclean and Mathew Gollant of Rodgers Reidy Melbourne to sell its assets, and had ceased trading.

"Ninety full-time jobs will be lost as a result of the administration process. All staff were informed today," said a statement from Rodgers Reidy Melbourne.

"Whilst the company has ceased trading, the administrators are seeking expressions of interest from parties for the sale of all or some of the business assets, including the projects," the said.

Property owners who had recently contacted the company should get in touch with the administrators or check their building insurance policies, the administrators said.

In 2014, the company signed a three-year deal to sponsor AFL coach  Alan Richardson, although the company logo wasn't featured on the St Kilda Football Club coach's shirt during the 2016 season.

The first creditors meeting will be held on Friday, March 10, at 10am.

With AAP