After 51 years, Manawatū TV and Sound has closed its doors.

A Palmerston North home audio services business has closed after more than 50 years.

Manawatū TV and Sound Services, on south-west corner of The Square, was put into liquidation last month, 51 years and one day after it registered with the New Zealand Companies Office.

Its doors are closed, but the liquidators haven't ruled out reopening briefly for a closing-down sale to sell remaining stock.

MURRAY WILSON/STUFF A notice on the shop window. The store has not reopened since falling into liquidation.

James "Jim" Bulloch, who was the firm's sole shareholder and director and a well-known figure in Palmerston North, died suddenly in January, aged 76.

The company trustees tried to sell the business and received interest from at least three parties, but its recent poor financial performance deterred any formal offers.

At its peak, the company operated seven stores and had an annual turnover of more than $10 million.

According to a Wares New Zealand article, Bulloch started as an apprentice radio and TV technician in Scotland, before moving to New Zealand in 1959.

After initial dips into the industry, Manawatū TV and Sound Services began in 1967. In 1982, Bulloch bought the shop on The Square, where the firm remained for the next 36 years.

The firm is not related to Manawatū Sound Service, on David St, Palmerston North, which is open and running as normal.

BDO New Zealand liquidators Iain Shephard and Jessica Kellow's first report revealed Manawatū TV and Sound Services is $777,000 in debt.

"Manawatū TV and Sound Services has a proud history of providing home audio services to the Manawatū region for more than 50 years," their report says.

"In more recent times, the changing marketplace has seen the company hive down to a single remaining store."

According to the report, the company's three employees will be prioritised over unsecured creditors to receive their redundancy and holiday pay entitlements.

"The company had been trading with the financial support of the shareholder and, as a consequence of his untimely passing, the trustees of the estate have resolved to appoint liquidators."

Manawatū TV and Sound Services has been contacted for comment.