Equinox to retain £2.5m Powerhouse

Retailer PRG Powerhouse has done a U-turn and reappointed its former media agency Equinox Communications to handle its &£2.5m buying account.

Equinox first picked up the business in November 2003, shortly after PowerHouse was bought out of administration by New Zealand-based Pacific Retail Group.

Later, the then commercial director Nigel Samuels instigated an agency review, appointing Terry Davies Media to handle the media and Rainey Kelly Campbell Roalfe/

Y&R for creative advertising. But the former Seeboard marketing director suddenly left Powerhouse at the end of last year.

General manager for marketing Bethan Edwards now oversees marketing. And Leicester-based agency Likeminded has been appointed to handle the advertising for the company.

Last month, the electrical goods retailer announced that more than 300 jobs would be lost in its 122 stores, along with additional job losses at head office.There is also speculation that Pacific Retail Group is restructuring the retailer in preparation for a sell-off. GUS, owner of Argos and Homebase, has been mooted as a possible suitor.

Pacific Retail Group revealed last month that Powerhouse was performing below expectations and was expected to deliver a NZ$13.2m (&£5m) loss for the six months ending March this year.

Powerhouse was first formed as result of a management buyout of the Southern, Eastern and Midlands regional electricity companies’ retail operations, following privatisation.

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Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne See more of the Marketoonist here

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