Nine people have been made redundant after an upmarket joiners and shop fitters in Sheffield, which had been trading for more than 30 years, was forced to close due to the downturn in the construction and retail industry.
M J Squire Limited, based at Orgeave Close in Sheffield, worked for household names including House of Fraser, Levi’s, Austin Reed and Tommy Hilfiger, and was profitable until 2014.
But it hit cash flow problems when the work dried up.
Andy Wood and Robert Dymond of Wilson Field insolvency practitioners in Sheffield were appointed as liquidators on February 10.
Operations have now ceased and all nine employees have been made redundant.
Andy Wood said: “Declining sales at M J Squires significantly impacted cash flow and the business’ ability to meet its liabilities. In the face of tough market conditions, the director has taken the difficult decision not to continue trading. The business has closed and the assets are being sold.
“It is very sad to see this well-known local business cease to trade after over 30 years. The downturn in the retail sector has hit this business hard.”
A Wilson Field spokesman said the list of creditors would be in the statement of affairs which would be filed at Companies House in about a week.
Companies House records show Gillian Squire was a director of the company until she resigned on December 1 when company secretary Matthew James Squire was appointed director.