" From 5pm on Jan 14, you will no longer be able to place orders on ferrit.co.nz"
This was the notice you will see if you go to Ferrit website after Telecom decided to shutting down its loss making online retail store tomorrow (Jan 14,2009)
The business, which started in 2005 never turned a profit and Telecom is not commenting on whether industry estimates of a $30 million investment in the venture are correct or not.
Telecom retail CEO Alan Gourdie said in a statement that the company was directing its focus and resources to "core business areas" such as next generation broadband and mobile technology.
Ferrit was seen as a pet project of former Telecom chief executive Theresa Gattung, and as a bid by the telecommunications giant to be entrepreneurial in online business.
The business, which started in 2005 never turned a profit and Telecom is not commenting on whether industry estimates of a $30 million investment in the venture are correct or not.
Telecom retail CEO Alan Gourdie said in a statement that the company was directing its focus and resources to "core business areas" such as next generation broadband and mobile technology.
Ferrit was seen as a pet project of former Telecom chief executive Theresa Gattung, and as a bid by the telecommunications giant to be entrepreneurial in online business.
Hello, my name is Jack Sparrow. I'm a 50 year old self-employed Pirate from the Caribbean.
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