Chester-based family electrical firm shuts after 55 years

May 5 2011 by David Holmes, Chester Chronicle

A FAMILY-RUN TV and hi-fi business is closing after more than half a century of trading.

Peters Hi-Fi in Hoole and Bromborough is shutting down 55 years after the firm was established due to competition from supermarkets and the internet.

Managing director Martin Caveen, son of Peter Caveen who set up the Charles Street shop in 1956, said: “Over the last 10 years Peters has suffered. Like many independent electrical retailers, Šthe influx of cheaper brands readily available in supermarkets and on the internet has made their business unsustainable.Š

“For many people, buying quality products to last or seeking specialist knowledge are no longer a priority.

“Lesser known brands have become more popular, undercutting superior brands such as Sony and Panasonic, in an increasingly disposable society where price is everything.

“This trend in consumer buying, together with the worst recession since 1930, has hit the electrical retailer hard.”

Mr Caveen said 15 staff would be made redundant across the two stores but explained it was better to close now before the company had to go into administration.

He added: “The small corner shop has come a long way from selling transistor radios and fridges in the 1950s, to high definition and home cinema systems today.

“Regretfully, after over half a century, this experienced, family firm has been forced out of the market, and now has to close its doors.”

Mr Caveen thanked loyal customers and hard-working staff on behalf of himself, his parents Peter and Dorothy, his sister Karen and the directors.

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