Telecom New Zealand is to close down what it describes as New Zealand’s largest shopping mall after running it at a loss since November 2005.

The online shopping mall called ‘Ferrit’ is to stop taking orders from 5pm on 14th January 2009.

At present, all pages on the Ferrit site have a large image banner near the top explaining the situation.

From 5pm 14 Jan you will no longer be able to place orders on Ferrit.co.nz.  You can still purchase from Ferrit retailers by going directly to the retailers website.  Retailers will continue to process any orders in the system and Ferrit guarantess you will either receive your goods or your money back.

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 has 24 full time employees and another 13 contractors.

Source:  The New Zealand Herald, Ferrit

Tags: Telecom

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