14 jobs lost at Laser's Newtownabbey store

The company, which has 10 stores and 140 employees across Northern Ireland, went into administration last week.

And on Friday (April 9), KPMG, the administrators of Laser announced that the business could not be saved.

The majority of employees have now been made redundant, though some have been retained to help with the orderly wind down of the company.

The company was owned by County Antrim businessmen Maurice Peacock and Liam Scullion who took control of the firm in a management buyout in 2004.

They had been seeking fresh investment for some time but called in the administrators when it became clear that was not going to be possible to achieve.

Local elected representatives have expressed their dismay at the news.

North Belfast Alliance Candidate Billy Webb said he was “sad” at the loss of local jobs.

“This area of my constituency has lost a lot of jobs and the latest loss at Laser will impact on the local economy.

“140 jobs will be lost through the closure of Laser and the Newtownabbey store has been trading for a number of years giving a local service and local employment.

“It is regrettable that the Receiver was unsuccessful in putting a rescue package in place and that staff will be made redundant.

“This further hit to employment clearly shows that the economy needs to be a major issue in the election on May 6, and not the tribal headcount we have seen in previous years.”

DUP Alderman Nigel Hamilton added: “The recent decision to close Laser stores across the UK and go into receivership has been a serious blow to local employees in the Newtownabbey store and one which only adds to the concern that faces families in the difficult aftermath of lost and uncertain employment.

"We have been at the end of difficult times economically and while there are occasional glimmers of hope for our economy in Newtownabbey, the loss of Laser and firms of its ilk are disconcerting and a cause for concern.”

Meanwhile, the Joint Administrators continue to deal with customer enquiries, and creditors who may have a claim to goods at the company's premises.

KPMG said anyone who has a claim against the company or who may have goods on the premises should contact them in writing at KPMG, Stokes House, 17-25 College Square East, Belfast, BT1 6DH.

The company's last published accounts, which were for 2008/2009, showed it made a profit of 34,177 which the directors said had been achieved against a "very challenging trading environment”.

Glyn Roberts, Chief Executive of the Northern Ireland Independent Retail Trade Association, said it was a "terrible blow to both the local economy and the 140 staff at Laser".

"It is further proof that we are in no way in a sustainable recovery as retailers continue to struggle with a downturn in spending," he said.