JT Carpets business up for sale
A well-known carpet business in Newry and its premises have gone on sale.
JT Carpets on Upper Edward Street in the Co Down city is being sold by owner Jim Toner, who is planning to retire.
The firm makes over £1m per annum with assets valued at £33,000 and stock worth £262,000. The long-established business is one of the main flooring retailers in the area and also has customers throughout Northern Ireland and the Republic of Ireland, selling carpets, rugs and wooden flooring.
It is thought that Mr Toner is willing to sell the 24,000 sq ft premises or to lease the premises to a new owner.
He has been advised by Focus Business Advisers partner, Declan Kelly.
Mr Kelly said the business offered opportunities to expand sales to the Republic of Ireland, due to Newry's closeness to Dublin. He said it had not been harmed by the opening of the IKEA store in Dublin. "Despite the recession, sales have been strong," he said. "The owner speculates that this is because people who might previously have moved house are now staying put and are refreshing their homes."