European Telecom's administrators have closed the doors at the distributor, making 80 people redundant.
Administrator Lloyd Biscoe of insolvency firm Begbies Traynor told Mobile that he was talking to a number of interested parties about the stock and assets of ET and continued to work with the business' directors.
'The operation is now closed due to insufficient funding,' said Biscoe.
At the head of the queue of those owed money are ET's secured creditors HSBC and Anglo Irish, the bank that provided ET with an invoice discounting service.
Source: Mobile
