The company, which supplies granite table tops for kitchens and bathrooms and also does restoration and landscaping work, is understood to have run into difficulties due to the slump in the property market.

Managing director Ronnie Lewis said in a statement: "The directors of Cunningham Stone NI have been forced to substantially reduce operations as a direct result of the current economic downturn.

"A small number of employees will be retained to support and protect the reduced business."

The company declined to make any further comment.

Jim Wells, DUP MLA for South Down, expressed his concern about the job losses and the future of the company.

"This is yet another bitter blow to the Mourne economy. The announcement follows the closure of Coulter Construction, SuperValu, and major job losses at B/E Aerospace," he said.

Mr Wells said the news was evidence there had been no revival at the top end of the housing market in Northern Ireland or the Republic.

Cunningham Stone last month completed a Pounds 2m restoration project on St Mark's Church in Newtownards, detailed work which it said showcased the skills of the company's craftsmen.

CAPTION: Concern: Jim Wells

(c) 2009 Belfast Telegraph. Provided by ProQuest LLC. All rights Reserved.

A service of YellowBrix, Inc.