Co Down rug dealer closes with the loss of 12 jobs
A Co Down rug distributor has gone into administration with the loss of 12 jobs.
Administrators Ernst & Young said the directors of Duncan Rugs concluded the company was insolvent after a difficult period of trading.
Andrew Dolliver from the administrator said it was keen to keep the Newtownards company running but felt the only option was to stop trading. "It is regrettable that we have had to close Duncan Rugs," he said.
"Our immediate review concluded that continuing to trade was not commercially viable and it is with regret that I had no alternative but to make all workers redundant with immediate effect."
The company was set up more than 30 years ago and imported and distributed commercial quality machine and handmade rugs from a range of international suppliers.
It was founded by David Duncan, who initially distributed a range of sheepskin products after a career in the carpet industry in Bangor.
Its 25,000sq ft warehouse in Newtownards once employed 20 people and handled over 20,000 rugs, according to the Duncan Rugs' website.
It had also formed joint ventures in China and Turkey, and had offices in Panipat and Haryana in India.