The UK arm of German premium consumer electronics brand Loewe has gone into administration with the loss of eight jobs.
Matt Henderson, a restructuring partner at accountancy and business advisory firm Johnston Carmichael has been appointed as administrator of Loewe UK Ltd.
The business is a subsidiary of Loewe Technologies, known for its luxury TV sets, which suspended operations on July 1, after initiating insolvency proceedings.
This means that Loewe UK, which is located in East Kilbride, in Scotland, can no longer be supported and cannot trade, said the administrator.
In a statement, Mr Henderson said: “Loewe was known for its state-of-the-art TV sets. However, it has struggled to be profitable in the face of increasing competition from manufacturers based in the Far East who have developed similar technology.”