HomeServe to close Property Repair & Anglia units
by Gill Montia
HomeServe has announced the proposed closure of its HomeServe Property Repair and Anglia businesses.
The company, which specialises in emergency cover and repairs for homeowners, has been pushed into operating losses by falling retention rates, while at the same time being deserted by a major client.
However, its core membership operations will not be impacted by the proposed closures and the group expects these elements of the business to continue to perform well.
Last month HomeServe sold its Emergency Services Division to a newly incorporated company backed by Lloyds TSB Development Capital, and management.
The move was aimed at allowing a greater focus on the group’s higher margin, higher growth, membership businesses.
At the time, HomeServe said it was continuing to explore a range of options for its property repairs businesses currently experiencing challenging market conditions.