Station Road mart in Cootehill, Co Cavan, is to close with immediate effect, its directors have confirmed.

The mart, “is and always has been solvent”, directors Jimmy and Carmel O’Reilly said in a statement confirming the closure.

The popular Cavan mart reopened its doors on 4 September 2013 under the management of the O'Reillys after a number of years of inactivity.

Its catchment area included Monaghan, Cavan, Longford and Meath, with a large customer base built up over the years.

A general cattle sale, weanling sale and sheep sale took place weekly.

The weekly sheep sale was particularly popular, while the mart had also built up a good reputation for top-quality weanlings, with a number of exporters and farmer buyers in attendance on a weekly basis.