Online & out of town competition blamed as Ipswich based electricals store Matthews goes into liquidation

A long established electrical appliances retailer in Ipswich has gone into liquidation with the loss of six jobs. Matthews, based in Foxhall Road, has been trading in the town for more than 70 years but is said to have struggled for sales recently in the face of competition from large edge of town stores and online operators.

Chris McKay, a director at regional business rescue and insolvency specialist McTear Williams & Wood has now been appointed as liquidator following a meeting of credtors held under the Insolvency ACt 1986.

Adrian Sage, senior associate at McTear Williams & Wood, said: "Matthews is a long established and well known local business but is has suffered a reduction in trade, with online retailers and out of town stores affecting sales. Unfortunately all six employees including the two directors have been made redundant." He added that the prospects for creditors of the company remained uncertain at such an early stage in the liquidation process.

www.ipswichstar.co.uk
16 March 2017


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