11 December 2012 Last updated at 13:13 ET

Fultons the furniture retailer set to close

Fultons moved its Belfast operations to Boucher Road in 2006

The furniture retailer, Fultons, is to close after its administrators were unable to find a buyer.

The company, which is best known for its 60,000 sq ft showroom on Belfast's Boucher Road, was placed into administration in July.

The administrators, PwC, said they had received "a number of serious approaches from interested parties".

However, it said it had not been able to reach a deal.

PwC said that while the business had been trading successfully in administration that could not continue indefinitely without a new owner,

What is described as a "managed wind down" will now take place over the next few months.

The administrators said new orders will be taken until 17 December and all existing orders will be fulfilled. All floor stock has now been reduced.

Fultons employs a total of 45 people who can now expect to lose their jobs.

The business began in Lurgan over 50 years ago and there is still a Fultons shop in the town.

It opened a Belfast operation in 1991 and moved to its new purpose-built premises in 2006.

The furniture and homeware sector in Northern Ireland has suffered in the recession with several local retailers going out of business.