Liverpool store Rapid employees made redundant
About 100 staff at Liverpool hardware store Rapid have been made redundant after administrators confirmed it would not reopen.
The retailer closed its doors on Thursday after administrators were called in and a review of the company was carried out.
Administrators Duff and Phelps said the retailer could no longer continue trading.
It said all employees had been made redundant with effect from Friday.
Philip Duffy said: "The financial position of the company is such that it can no longer continue to trade as there is insufficient stock to generate sales with which to meet on-going trading liabilities, including employee wages and salaries.
"This was discussed with the company's employees in meetings last week whilst discussions were ongoing.
"However the joint administrators have now written to all employees to confirm that the store will not be reopening."
Rapid had been run by managing director Martin Doherty and his family since it opened in 1971.
It moved into the former George Henry Lee building on Basnett Street in the heart of the city's retail district three years ago, leaving its original premises on Renshaw Street.