The directors of the cafe bar The String have announced “with some reluctance” that they intend to cease trading in the next few weeks.
Directors Akshay Borges and Neil and Kelly Riddell said they were devastated, in particular for the permanent staff facing redundancy as a result, and thanked them for their hard work during the company’s time in business.
While The String is a limited liability company, the directors have pledged to use their own resources to ensure all outstanding sums owed to creditors are met “in full”.
The String opened its doors on Lerwick’s Commercial Street in August 2018 and will vacate the building on 31st March.
The intention is to trade out until as close to that date as possible.
It is understood staff were told at the start of this week that the business would close.
In a joint statement, the three directors said they had reached a decision on Sunday having spent recent months looking at possible alternatives to closure.
Kelly said: “Neil and I ended up taking on a much greater level of involvement than initially anticipated, and ultimately that has not proved compatible with raising two infant children.
“We are clear that our family is where our primary focus must lie, and were not in a position to make the substantial additional investments necessary to ensure the business continued to thrive.
“We are very sorry that decision ultimately means our hard-working staff will lose their jobs. We are fully committed to continuing trading for the next few weeks and would love nothing more than to see The String going out on a high.”