Page last updated at 15:18 GMT, Friday, 9 April 2010 16:18 UK

140 jobs lost at Laser electrical

Laser had 10 stores across Northern Ireland
Laser had 10 stores across Northern Ireland

140 staff at electrical goods chain Laser will lose their jobs.

The company, which has 10 stores across Northern Ireland went into administration last week.

On Friday KPMG, the administrators of Laser announced that the business could not be saved.

The majority of employees have now been made redundant, though a number have been retained to help with the orderly wind down of the company.

The Joint Administrators continue to deal with customer enquiries and creditors who may have a claim to goods at the company's premises.

KPMG said anyone who has a claim against the company or who may have goods on the premises to contact them in writing at KPMG, Stokes House, 17-25 College Square East, Belfast, BT1 6DH.

The company's last published accounts, which were for 2008/2009, showed it made a profit of £34,177 which the directors said had been achieved against a "very challenging trading environment."

Glyn Roberts, the Chief Executive of the Northern Ireland Independent Retail Trade Association, said it was a "terrible blow to both the local economy and the 140 staff at Laser".

"It is further proof that we are in no way in a sustainable recovery as retailers continue to struggle with a downturn in spending," he said.

The company was owned by County Antrim businessmen Maurice Peacock and Liam Scullion who took control of the firm in a management buyout in 2004.

They had been seeking fresh investment for some time but called in the administrators when it became clear that was not going to be possible to achieve.



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