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Tuesday, June 30, 2009

Fonehouse deal closes just four shops and saves 91 jobs

The administrators of Fonehouse Holdings Limited have confirmed the current situation with the Fonehouse mobile phone brand. As we mentioned last week, Fonehouse Holdings has been placed in administration. It was responsible for running 16 of the 30 Fonehouse mobile phone stores, mainly in the south-east of England. The business has now been sold by the administrators to Fonehouse Group Limited, which has saved 91 jobs. Fonehouse Group has kept 12 of those 16 stores and is also managing the Fonehouse franchise programme; the transfer has seen four Fonehouse shops close.

Neil Bennett from administrator Leonard Curtis said “The mobile phone business is currently being affected by two key drivers: the credit crunch which means that fewer upgrades are happening, and an almost saturated UK market. The directors believe that this is a business which can be made to work. We wish them every success.”

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Author: The Fonecast
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