The Sheffield-based electrical goods wholesaler and national distributor Inman & Co has been closed down after going into administration.
The decision to call time on the long-established business, which had sales of £20m, means the loss of almost 80 jobs.
The administrators from accountancy firm KPMG said that “in a very competitive market the company’s margins were shrinking and cash flow problems led to its insolvency”. The firm said it had been unlikely that it would be able to sell the business as a going concern.
Inman, which had distribution centres in Sheffield, Bristol and London, supplied electrical goods to both contractors and independent retailers.
Three years ago it secured a funding package from Royal Bank of Scotland to allow it to implement plans for growth and to support its status as principal UK distribution partner for Philips Consumer Lifestyle.