Story was first reported on December 4th 2023.
The new boss of TV and online shopping channel Hochanda Global in Oundle has outlined his vision for the business as it begins a new era.Paul Goodrum (49) is the new managing director of Hochanda, which also has a warehouse in Orton Southgate, Peterborough, following the decision of its founders, entrepreneurs Paul Wright and Val Kaye, to retire and sell their shareholding to equity fund TNUI Capital.Mr Goodrum, who joined the business four years ago and has been a director for two years, said that in a tough economic climate it would be business as usual while implementing a cost cutting strategy that had been agreed before the sale.Peterborough born and educated Mr Goodrum said that the strategy would mean the loss of 20 to 30 jobs among a workforce of about 130 staff.He said: “Our message is that it is still very much business as usual."We are looking to carry out the strategic cost saving growth plan to take us in 2024."This strategy was announced prior to the merger and the new owners are in agreement with the steps we are putting in place to ensure we start the new year on the right foot and with the right growth model in place.“Essentially, we are cutting our ‘coat according to our cloth’ – we need to make sure we are operational and getting back to our cost base."It does mean the business is in the process of making about 30 redundancies.”The new strategy follows Hochanda’s acquisition of the popular Create and Craft business from the Peterborough-based Ideal World in January 2022.It saw Create and Craft merged with Hochanda Global’s existing The Craft Store.Mr Goodrum said: “Following that purchase and for other reasons around how we reach a larger audience, we found we had additional overheads."It meant we had to focus on what is our core business, which is the craft channel.He said: “These are challenging times. There are a lot of ongoing economic factors, such as interest rates, which impact on customer spending.“We have really good relationships with our suppliers. We are looking for additional opportunities to increase our supplier base. There are a lot of categories where we do a little, such as cake decoration and pottery, and where we could do more."We are also looking at growing the use of our TV app.“We have very healthy viewing figures and following on social media and strong club loyalty – and we want to keep these customers as part of our journey.”Mr Goodrum, who has previously worked at Perkins Engines, said of his new role: “It is a proud moment."It is exciting and I’m looking forward to the opportunities to come."Going into the new year the aim is stability – it is business as usual – our customers wont see anything different."Our focus is about providing value for the customer but without impacting the suppliers yet also delivering value for our new shareholders.”
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