Wholesaler HE Richards is in administration this afternoon, putting the future of its 28 staff in doubt.
The firm lost its cigarette supply business earlier this month after a dispute with Imperial Tobacco over payment.
That row ended with Heron & Brearley agreeing to supply the majority of the Island’s independent newsagents with cigarettes and tobacco products.
KPMG has been appointed as the company’s receiver and says it’s following up any expressions of interest in the firm.
No staff have yet been made redundant, but they have been sent home while KPMG tries to find a buyer.
(Picture: The warehouses of HE Richards Limited, at Hill's Meadow, Douglas, from herichards.co.im).
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