140 jobs will be lost with the closure of ten stores of the electrical goods chain Laser in Northern Ireland.

The company went into administration last week. The administrators of Laser, KPMG, announced yesterday that the business could not be saved.

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

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

They said anyone who has a claim against the company or who may have goods on the premises should contact their office in Belfast.

Laser was owned by two Co Antrim businessmen 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.

Glyn Roberts, the 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.