AS MANY as 25 people look set to lose their jobs after Hampshire furniture maker Haskers collapsed into administration with debts of £500,000.

Fierce competition and high rents meant the 60-year-old family business found itself unable to compete with national rivals.

Shops in Titchfield Common Retail Park, near Fareham, and another in Portsmouth are to close, with bosses Ron and Terry Hasker among those losing their jobs.

The pair are the third generation of the Hasker family to run the business, which had recently celebrated its 60th anniversary.

Administrators, Whiteley's Portland Business and Financial Solutions, said a last minute rescue of the business "appears unlikely".

Portland managing director Carl Faulds said: "It is always a great concern when a well-known company such as Haskers goes into administration.

Unable to compete "This local, family-run independent business has been in existence since 1946, but in today's market place it is simply unable to compete with the major national players in the industry.

"A combination of the fact that consumer spend is down at the moment and that the business has long-term leases on its stores with high rents, has resulted in the current situation. Unfortunately, 25 jobs are likely to be lost. The underlying fundamental aspects of the business are such that a rescue package appears unlikely at this stage."

The move to call in the administrators is the sad demise of a company, which at one stage also had a branch in Gosport and as far afield as Bognor Regis.

Started as Blackfriars Bazaar in 1946, the shop switched from hardware to cash in on the rising popularity of carpets and later furniture.

Customers owed goods or services will be contacted by letter to explain the position. A closing down sale will also be held.