Laser closes

The company employs 140 employees in 10 stores across Northern Ireland, including one store at the Riverside Regional Park in Coleraine and others in Belfast, Newtownabbey, Londonderry and Lisburn.

The company has blamed the economic downturn. The shops have been closed until further notice.

Staff have been advised not to return to work until next week as the administrators are in the process of contacting creditors.

KPMG, the administrators of Laser, met staff at each shop and at company headquarters on Friday morning.

They are trying to contact customers who are waiting on purchases but it will be some time next week before they know the full picture.

The company is owned by Co 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.

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