Taylor Electrical pulls the plug after decade of town trading
An electrical store in Mildenhall is set close later this year bringing to an end a decade of trade in the town.
Earlier this week, directors of Taylor Electrical announced the closure of its Mildenhall branch, along with its other three stores, within the next few months.
The winding down of the company, which was agreed by the Employee Share Trust scheme which owns the majority of the company’s shares, will see the loss of 23 jobs across the four stores, including three in Mildenhall.
“The cumulative effect of the prolonged economic downturn plus additional competition from the internet has adversely affected turnover in recent years,” said a spokesman for the company.
“Despite considerable savings in overhead costs, the company can no longer continue to trade profitably.”
A closing down sale will run at the High Street store until all its remaining stock is sold.
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Sunday 19 May 2013
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