Banbridge window manufacturer Bowmans NI Ltd has begun insolvency procedures.
All 31 employees were made redundant on Wednesday as the company entered into a Company Voluntary Arrangement (CVA).
Administrator Walter Lismore, from the Lismore Group, said: "This particular industry has contracted over the past few years as the UK and Irish recessions have developed and the company has become a casualty of that," he added.
The aluminum window manufacturer set up business in 1970.
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