The decision to close Classic Network Solutions was made following adjustments to GHL Group’s cost base and business outlook for 2008 and beyond, while the transfer should be fully completed by the end of 2007. GHL Group has entered into a period of consultation with Classic staff over their positions.
The decision will not affect Classic appointed representatives, who will now have full access to GHL Group’s network services.
Commenting on the decision to close Classic, Nigel Gardner, GHL managing director of GHL Group, said it had been necessary to review its group structure and cost base in order to maintain and improve the level of service it provided. He added: “We have therefore decided that Classic Network Solutions will be closed and the support functions provided to their members will transfer to GHL Group. The decision to absorb the Classic brand will undoubtedly enhance our offering to the Classic members.”
