The company, who employ 12 people at their Rue des Prés offices, have blamed a downturn in the tourism sector for the decision.
CI Newsagents managing director Ray Cooper said that the decline since the company, which trades in gifts, stationery and books for the tourist market, was formed in the 1990s meant that Isle was unprofitable.
‘In the last few years profitability at Isle has diminished to the point at which it no longer makes a profit,’ said Mr Cooper.
‘Despite every initiative we have tried with a reduced marketplace, we are just standing still.
We wanted to see whether there were any opportunities this year so that we could resurrect the business, but nothing has materialised.’
