Southwest retailer Intek is aiming to break even with the current revenue share models after making cuts across the company.
Intek has laid staff off at head office and in stores, as well as slicing its marketing budget as it looks to break even on the upfront models. Hussain refused to disclose the number of redundancies.
Intek managing director Manny Hussain (pictured) said: “We’re not experiencing anywhere near the same problems JAG is at present but we’ve had to cut costs in order to keep our heads above water.
“We’ve reduced the number of support staff we have at head office and let some store staff go – some shops are now manned by one person instead of two.”
Hussain added that none of Intek’s 24 stores are in danger of being closed and played down the importance of high street retail for the company.
“Our current store portfolio is secure but we’ve diversified into selling our products and service online and that’s proving successful for us, so we’re not as reliant on the high street as others might be,” he said.
“We’ll see this period out and I’m confident we’ll be in a strong position once the rest of the ongoing revenue comes in.”