Grolier, the direct marketer of children’s books and related products, is planning to shutter its operations in Norwich, U.K. on New Year’s Eve, laying off about 100 employees, according to the Norwich Eastern Daily Press.
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Grolier, the direct marketer of children’s books and related products, is planning to shutter its operations in Norwich, U.K. on New Year’s Eve, laying off about 100 employees, according to the Norwich Eastern Daily Press.
This comes after the firm was unable to find a buyer.
A company spokesman said a small staff will remain for an indeterminate period to resolve any customer and account issues.
In a letter to staff in November, managing director Peter Barber said that “the UK business has experienced a significant reduction in sales and revenues for the past five years as our business model has come under increasing pressure from market competition greater consumer choice lower prices and new channels of purchase like the Internet.”
