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Trade and Industry Minister David Cretney hopes a buyer can be found for wholesaler HE Richards, which went into administration today, putting the future of its 28 staff in doubt.
The firm lost its cigarette supply business earlier this month, because of a dispute with Imperial Tobacco over payments.
KPMG has been appointed as the company’s receiver and says the firm is up for sale.
Mr Cretney says it's disappointing news, but there are signs a deal could be reached:
Mooir Vannin could be first of many
Dr Alex Allinson, who is retiring as Ramsey MHK at this year's general election, gave evidence to the final hearing by the independent panel.
'Significant investment or redevelopment' needed at Ramsey District Cottage Hospital
Manx Care is 'planning a sustainable long-term solution'
Police seeking witnesses to Ballasalla incident
It happened on Thursday (16 July)
Temporary closure of two hospital car parks this weekend
Manx Care says it's due to the delivery of critical infrastructure equipment