12 Jan 2009

Telecom to close Ferrit

8:26 pm on 12 January 2009

Telecom is to close its online shopping website Ferrit.

Ferrit was launched three years ago, but Telecom says the website has failed to break even.

Telecom says Ferrit employs about 24 staff and 13 contractors, and the company will try to redeploy them where possible.

Alan Gourdie, Telecom's head of retail, says the website was experiencing a growth in business, but it was not growing fast enough.

Mr Gourdie says Ferrit will stop taking online orders on Wednesday at 5pm.