TELECOMS group JWE, of Pocklington, is to sell all 21 of its shops in Yorkshire and the Midlands.
Negotiations with an unnamed buyer are not said to involve job losses. Thirty 30 staff will be given the option to work elsewhere within JWE.
The sale move was announced today by the company, which now intends to change its name to Convergent Communications Plc.
It said the sale was largely due to eroding profit margins in retail and the dominance of pre-pay phones.
Thirty more people will be recruited before the end of the year as back office and customer support services are extended.
JWE today revealed its preliminary results for the year ending March 31, which saw turnover rise from £28.8 million to £30.2 million and operating profits nearly trebling from £460,000 to £1.34 million.
The group has also just bought Crosshouse Holdings Ltd, a leading southern-based supplier of telecommunication voice and data equipment, for £8 million.
One of its leading customers is Card Protection Plan (CPP) in Holgate Road, York.
The new group will be providing the voice and data equipment once CPP's new HQ in York is built and occupied.
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