Thu, 17 Mar 2011 | COMMERCIAL PROPERTY
Furniture retailer Dekko, based in Northern Ireland, is set to close its two stores and wind down its business.
Trading since 1998, the retailer, which has two stores on south Belfast's Boucher Road and at Junction One in Co Antrim, has been struggling for some time due to the downturn in the Irish property market.
Michael Bambrick, founder and managing director, said, “We have been battling in a very difficult sector since 2008 and we have done fairly well in weathering the storms. I think the business had a lot of strengths and in a more normal environment, could have prospered.
“We didn't have the financial strength to go on,” [after a fall in February sales] he added.
“To close the stores is a voluntary action by the board, being mindful of their responsibility to everybody,” said Mr Bambrick. The closure of the two stores -which are currently holding closing down sales - will result in 42 job losses.
Dekko is not the first Northern Irish retail business to be forced to wind down due to the property downturn. Last year, the electrical store Laser fell into administration as a direct result of the slowing property sector.
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