850 jobs may go at home shopping company.UP TO 850 jobs in West Yorkshire West Yorkshire, former metropolitan county, N central England. Created in the 1974 local government reorganization, the county largely embraced the Leeds conurbation and comprised five metropolitan districts: Calderdale, Bradford, Leeds, Wakefield, and Kirklees. are at risk after the French owner of home shopping Home Shopping commonly refers to the electronic retailing / home shopping channels industry, which includes such billion dollar companies as HSN, QVC, eBay, ShopNBC, Buy.com, and Amazon.com. firm Empirestores announced plans to close the loss-making business. Redcats UK, the owner of the 175-year-old business, said Empirestores operations would cease by January next year unless a buyer is found. It blamed the decision on the impact of competition from internet sites and cut-price shops. Empirestores employs 350 people at its corporate headquarters in Bradford and another 500 at a warehousing and distribution base in Wakefield. It also has an unspecified number of agents around the country who earn commission from catalogue sales. Empirestores has reportedly seen revenues plunge by 50% in the past 10 years. Redcats said closing the business would enable it to refocus as a web-based distributor and ensure the viability of the company's remaining UK operations - French-supplied home-shopping businesses La Redoute, Vertbaudet and Daxon. Empirestores was the UK's first home-shopping brand and started by selling watches in the 18th century. Managing director Stephen Roche Stephen Roche was born November 28 1959 in Dundrum near Dublin, Ireland and is a retired professional road racing cyclist. In a 13-year professional career, he peaked in 1987, becoming only the second cyclist in history to win the Triple Crown of overall victories in the Tour de said: "We deeply regret having to implement these initiatives." The company said there was "no prospect" of sales recovering due to the continuing credit squeeze credit squeeze Restricted bank lending that is accompanied by rising short-term interest rates and a decline in economic growth. Credit squeezes are generally attributed to policy actions of the Federal Reserve. and poor consumer confidence. Lower sales had generated losses with no prospects of recovery. It is understood there will be no job losses among the Empirestores staff before April this year. A spokesman for Empirestores told customers it would be "business as usual" for the time being. |
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