James H Sutcliffe and Sutcliffe Furniture, that have been family owned for almost 125 years, have been placed into administration. The firm based in Todmorden employed over 100 people and only 10 people have been left on to help the administrators BDO .
The company has ceased trading and 100 of its 110 employees have been made redundant.
The administrators said that they are continuing to seek a buyer for the company's assets but they had to close the business due to difficult market conditions and cashflow problems.
Todmorden Town Councillor, Anne James (Lib-Dem, Cornholme) said the firm’s demise was a big and sudden shock.
“It’s one of the biggest employers around here and will have an impact on other businesses and the community,” she said.