THE Manx Electricity Authority has announced that it is to cease retail trading and close its five shops in Douglas, Ramsey, Castletown, Peel, and Port Erin.
MEA Showrooms have been selling electrical appliances on the island for several decades.
‘However, as has been well publicised, retail across the British Isles has been significantly affected by the economic downturn and this has brought into question the MEA’s proposals to return the business to profitability,’ the MEA said in a statement released this morning (Friday).
It added: ‘Following a full review of the entire retail operation, and despite the sterling efforts of the staff, the MEA Board has concluded that it is not possible to turn the business around from its current loss-making position. The Council of Ministers has confirmed its agreement with this decision.’