Electrics shop closes down
POWERHOUSE, the electrical goods retailer, has closed its Royston branch after the company went into administration. The store in Angel Pavement was closed on Wednesday without warning and staff working there were among the 500 workers who were expected t
POWERHOUSE, the electrical goods retailer, has closed its Royston branch after the company went into administration.
The store in Angel Pavement was closed on Wednesday without warning and staff working there were among the 500 workers who were expected to receive a redundancy package.
The company, owned by New Zealand's PRG Group, has blamed internet shopping, competition on the high street and a continued deterioration in the electrical retail market for its demise.
The company went into administration for the first time three years ago before PRG took over, but it now says PowerHouse's position is no longer sustainable
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In a statement company chairman Jock Irvine said: "We are extremely disappointed we have had to take this decision but we believe it is the most responsible course of action."
The company, however, has said it will work to secure a sale of the business and its assets.
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Customers who have recently made purchases and have queries should call the helpline on 0845 603 4037.