Ferrit Closes Down

Online shopping website Ferrit.co.nz, who you’ll probably know from their extensive advertising campaigns that have been just about everywhere in recent years, have decided to close.

Owned by Telecom, the shopping website has never returned a profit since its launch in 2005. It started with around 150 online stores and toted itself as a true online mall. The number of stores has since decreased to 90.

Ferrit employs 24 permanent staff and 13 contractors, and while Telecom will try to place them in other parts throughout the company, they can’t guarantee that there won’t be any job losses.