Around 50 staff at a Belfast engineering firm lost their jobs today after the business folded.

Last night, Central Group Services' management told workers at the Dee Street plant, in the east of the city, that the outlook was bleak.

This afternoon they were informed that the company, which also employs 20 staff in the Irish Republic, would close.

In a statement bosses said: "Due to the current economic conditions, the directors of Central Group Services Ltd have regrettably taken the decision, following legal and professional advice, to cease trading immediately and to commence the process of winding up the company as soon as is reasonably practicable.

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"Every action was taken by directors to mitigate this action in an attempt to preserve the employment of all staff."

Established in 1994, Central Group Services was one of the Province's top providers of mechanical and electrical supplies.

According to its website, the firm specialised in air conditioning, boiler maintenance and heating installation.

Central Group Services carried out contracts across all sectors of the economy - commercial, industrial and domestic.

(PR/JM)