A family-owned furniture and flooring business in north Belfast (Ireland) has closed after more than six decades of operation, citing difficult trading conditions. The business, which employed around 16 people, ceased trading last month, and liquidators have now been appointed under a creditors' voluntary liquidation arrangement.
© Pattanaphong Khuankaew | Dreamstime
The company, Rite Price's, modern 76,000 sq ft showroom and warehouse, built in 2001, had been the main base of operations since its reconstruction following a devastating 1998 fire. The family, which managed the business for multiple generations, expressed gratitude to staff and customers for their support over the years.
Financial accounts for the year ending March 31, 2025, revealed liabilities of £452,768 due to creditors, compared with £326,636 in stock, cash, and receivables. The entire site, including the warehouse and showroom, is now on the market, with offers being invited around £1.75 million (€2.0 million).
The business had faced operational challenges in recent years, with management transitioning to the next generation of family members before the closure. The appointed liquidators are tasked with overseeing the sale of assets and settling outstanding obligations to creditors.
The closure marks the end of a significant chapter in Belfast's local furniture retail history, reflecting broader pressures in the sector and the difficulties faced by longstanding independent operators in the current economic climate.
Source: www.irishnews.com
