Shopsmart to close quick smart
Published: 29 Nov 2002 12:30 GMT
Barclaycard has announced it is to close its shopping comparison site Shopsmart.com after Christmas.
Shopsmart.com was bought by Barclaycard in April 2001 as part of its Indigo Square joint venture with Japanese bank Nomura. IndigoSquare.com was then incorporated into the Shopsmart brand.
Then in October last year Barclaycard assumed full control of the unit, buying out Nomura for an undisclosed fee and laying off staff. At the height of its powers Shopsmart employed 150 staff.
A spokesman for Barclaycard confirmed the latest downturn in the fortunes of Shopsmart will mean more redundancies over Christmas and the disappearance of the Shopsmart brand in the New Year.
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