17 May, 2006 - 13:27 By Staff Reporter

HEC closes ChoicesUK TV

Peterborough based Home Entertainment Corporation (HEC) has closed ChoicesUK TV, the teleshopping business it launched only nine months ago, due to a poor sales performance.

Peterborough based Home Entertainment Corporation (HEC) has closed ChoicesUK TV, the teleshopping business it launched only nine months ago, due to a poor sales performance.

The move is part of the management’s drive to eliminate loss-making activities, reduce costs and improve cashflow through streamlining the organisation, which has so far resulted in annualised savings of approximately £2m.

The disposal of the leases of a number of unopened non-trading stores is expected to achieve a further annualised saving of approximately £600k. Total losses incurred from the closure of ChoicesUK TV are expected to be no more than £1.35m.

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