Property developer Rok Property Solutions is closing a plastics business after failing to sell it.
Rok, which recently opened offices on Teesside and in Newcastle, blamed a lack of market appetite for the closure of the SpaceAge Plastics operation in Poole, Dorset, which will cost 35 jobs.
The business, which makes conservatory roofs and sells plastic building products, has been running at a loss for some time, Rok said.
Rok decided the SpaceAge operations, which represent only one per cent of group turnover, were not part of its core business when the company was restructured in 2001.
Measures by Rok to boost SpaceAge included changing the management team, redundancies and a potential sale.
But the group said the latter option failed because of the intensely competitive market in which SpaceAge operates and a lack of market appetite for such a business on terms amenable to Rok.
Chief executive Garvis Snook said: "While it is regrettable that the SpaceAge business in Poole is to close, we firmly believe it is now necessary to stop further losses."
A smaller SpaceAge branch, in Reading, has been sold to local company Duraglaze.
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