A high-end interiors showroom in south Belfast is to close at the end of the month after 10 years on the Lisburn Road.
Manager at Beaufort Interiors, Trevor Wilson, said that rates and rent on the upmarket shopping strip are "horrendous" and that the business will be consolidated between the company's main showroom in Moira and a factory in Lisburn.
He added that while one job has been lost, up to three other staff could be redeployed elsewhere in the company.
Mr Wilson said the showroom was opened in 2002.
"We are very sad to say we are closing at the end of the month," he said.
"The location is fantastic but the rates and rent are horrendous and we need to reduce our overheads.
"We just cannot make this location viable. People are moving house less so we are selling less of the big ticket purchases. People have less money to spend.
"More and more people are buying smaller things for improving their existing homes and we actually have more clients these days but not enough of a spend to be able to keep the showroom open.
"It is unfortunate, we have one person who has lost her job, but a lot of businesses in this area are going the same way, many have already closed."
Mr Wilson added that a closing down sale will take place at the Lisburn Road premises on February 25.
The firm is one of a string of furniture and interiors companies which have experienced difficulties recently, including Dekko, which closed stores in Antrim and Belfast last year.