End of an institution as Buy and Sell ceases trading

An Irish institution is no more after the Buy and Sell announced it has ceased trading.

The classifieds magazine and website released a statement saying that it had ceased trading due to financial difficulties and current trading levels.

The company thanked both its customers and employees for their dedication over the years.

“We wish to thank all our customers for their support over the years.

“We especially want to thank staff for their hard work and dedication to the BuyandSell brand,” the statement read.

A fall in advertising revenues and the shift from print to online were cited by the company as factors in the magazines demise.

“The ongoing market shift from print to online has been a major factor in this outcome, but the efforts of staff and management alike have been commendable.

“A noticeable decline in commercial and advertising revenues has forced us to take this regrettable step,” the statement continued.

In recent years a number of similar websites have been established, such as DoneDeal.ie and Adverts.ie.

The company also announced that a creditors meeting will be held in the coming days.