Newton Abbot based Launa Windows has gone into administration, blaming the recession and a drop in consumer disposable income.
Formed forty years ago, Launahurst Ltd, which trades as Launa Windows, was established by the Managing Director's father.
It has supplied windows and other home improvement products, turning over £5 million last year.
The company employs seventy staff, of which ten will be made redundant immediately. The company will retain sub-contractors to complete existing work.
Managing Director, Jonathan Hewitt, said, "Having experienced four previous recessions and endured numerous other boom then down-turn periods resiliently throughout the Company’s lifespan, it is with sincere regret that we have now unexpectedly tripped at this late stage.”
Ian Walker and Chris Norman from the Exeter office of national corporate rescue and recovery specialists Begbies Traynor have been appointed joint Administrators.
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