It’s been revealed today that the Manx Electricity Authority is to cease retail trading and close its five shops around the Isle of Man.
MEA Showrooms have been selling electrical goods on the Island over the past several decades, however retail has been severely affected by the economic downturn.
Following a full review of the entire retail operation it was deemed that it would not be possible to turn the business around from its current loss-making position.
In the last year alone they had to deal with a £600,000 deficit.
24 jobs will go as a result of closures, it is hoped a portion of the workers will be redeployed, however redundancies will be neccessary.
MEA Chairman, Eddie Lowey told 3FM that they were faced with no alternative.
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