British hi-fi brand Mitchell & Johnson has announced it is to close for business with immediate effect.
The manufacturer, which launched in 2012 and specialised in CD players and amplifiers, blamed a lack of consumer confidence and uncertainty around Brexit.
In a statement issue today (September 13), it said: “It is with great sadness that we announce the decision, which follows our significant unprecedented decline in consumer confidence and spending, due to ongoing Brexit uncertainty.
“We have worked tirelessly to establish ourselves in the global marketplace since launching in 2012 and have been incredibly proud to offer fellow music aficionados the myriad benefits of British designed and engineered products, following our commitment to UK manufacturing in late 2018.
“Tragically, we have been unable to reach sufficient global distribution fast enough to recoup our considerable investment in UK production and sustain our overheads.”