A CO Tyrone electrical wholesaler has closed its doors after nearly 25 years with the loss of more than 70 jobs. Meteor Electrical, previously one of Ireland’s largest independent electrical wholesalers, is the latest victim of the economic downturn in the North.

The family-owned business which was a leading employer in Cookstown, Co Tyrone, had suffered a major drop in sales as a result of the slump in the construction sector. Meteor Electrical supplied electrical products to commercial and domestic customers from its 160,000sq ft warehouse.

At one time the company employed more than 150 people and operated its own call centre.

The entrepreneur who built the business up over nearly two decades has spoken of his sadness that he had no other choice but to close the company. John Conway, managing director of Meteor Electrical, said: “It was with deep regret that the company had to take the difficult decision to cease trading with immediate effect, this despite the best efforts of all involved to keep the company in business. I would like to put on record my appreciation for the loyalty and hard work of all the company’s employees, many of whom have been with the company for over 20 years.”

Labour market statistics show Cookstown has had one of the highest rises in unemployment across the North. In the 12 months to April of this year unemployment there rose 162.3 per cent.

The latest setback on the employment front for the North comes as one of its major manufacturers introduces a programme of lay offs this week.

FG Wilson said that 50 per cent of its hourly paid employees “will be laid off for between three and six working days between June 1st and July 10th”.

The company said it will pay each affected employee 50 per cent of his or her current daily basic rate of pay for each day of layoff. Employees also have the option of using annual leave to cover the unpaid 50 per cent of the layoff day.