An electrical supply firm in Cookstown, Co Tyrone, has closed down with the loss of 70 jobs.
The Company, Meteor Electrical, has ceased trading after 25 years of trading after running into financial difficulties.
The independent wholesaler had been hit by the general downturn in the construction sector and also had been impacted by the exchange rates.
John Conway, Meteor Managing Director, said 'they had tried their best to keep the firm going'.
The company is to cease trading with immediate effect.
Sean Neeson MLA, Alliance Assembly member, said 'This closure is yet another sorry reminder of the impact that the global economic downturn and the decrease in construction activity is having on local businesses. '
The closure will have implications for Derry City Football Club, with Meteor having been one of its main sponsors.
