HomeServe to fast Property Repair & Anglia units

HomeServe has announced the proposed closure of its HomeServe Riches Repair and Anglia businesses.

The company, which specialises in emergency protect and repairs for homeowners, has been pushed into operating losses on falling retention rates, while at the same time being deserted on a major client.

However, its core membership operations will not be impacted sooner than the proposed closures and the group expects these elements of the corporation to continue to perform well.

Last month HomeServe sold its Predicament Services Division to a newly incorporated company backed by Lloyds TSB Increment Capital, and management.

The move was aimed at allowing a greater target on the group’s higher margin, higher growth, membership businesses.

At the in the nick of time b soon, HomeServe said it was continuing to explore a range of options through despite its property repairs businesses currently experiencing challenging market conditions.