FORTY jobs will go after long-established Newtownards firm Peninsula Print & Design in Newtownards went into administration.
The family-run company blamed the decision on the "catastrophic downturn in business" over the last six months and also the "inestimable impact" of the tragic loss of its founder and managing director Gary Withers in May.
Peninsula provided print services for organisations across the business spectrum - from large multinationals and government departments to small businesses and self-employed sole traders.
The company said that while every effort was made to mitigate the impact of Covid-19 by utilising the government furlough scheme, a significant drop-off in new orders meant the administration process was the only way forward.
Managing director Lillian Withers said: "This is a sad and difficult day for all of us and I don't underestimate the terrible blow this will be for our staff, their families and our local business community.
"I want to pay tribute to all the staff whose talents, skills and dedication have been the hallmark of the quality materials produced here.
"I also want to thank our numerous loyal customers, many of them also facing challenging times. We have done our very best but in the end the trading environment overwhelmed us, leaving us in today's situation."
The company had a long reputation for supporting community activities, including sponsoring environmental projects in local schools, churches, and helping amateur sports teams and groups that aid vulnerable adults.
Insolvency practitioner Gildernew & Co has been appointed by the company and a process is under way to assess the options available in respect of the business.
Staff have been advised of the situation and the administrator is in the process of contacting the firm's suppliers.
