Jobs to go at 7dayshop.com in Guernsey
About 30 people are set to lose their jobs after Guernsey business 7dayshop.com announced it would be reducing its operations.
The business based in Pitronnerie Road, St Peter Port, sells electrical goods and accessories over the internet.
Chris McQuaigue, partner in the company, said: "We will be running down our dispatch operation."
He said the decision was based on three months of investigation and due to "financial operating restrictions".
Mr McQuaigue said: "We now need to streamline our operation to maintain our position in the marketplace."
He said the decision was due to a number of factors including an increase in postal rates and the UK Government's decision to end Low Value Consignment Relief for the Channel Islands, both of which are due to come into effect from 1 April.
He said he did not blame anyone for the changing market situation, but was disappointed.
Mr McQuaigue said: "During the last 12 years we have invested both in our business and also the local economy always with a view to a long-term island commitment, so this decision has really been difficult to make.
"Naturally our thoughts right now are with all our highly valued and dedicated workforce, many of whom have been working with [us] for several years."
The business started in the island in 2000 as a shop selling batteries and film before focusing on and then solely operating its online shop. It currently employs about 50 staff.