Sources: Shop at Home Network being shut down

Less than two years after buying up portions of the Nashville station, Knoxville-based owner puts employees on 60 days notice

Email | Print By Walker Duncan and Ken Whitehouse

After having their jobs “saved” in June of 2006, it now appears that employees of Nashville’s Shop at Home Network are going to be out of work very soon.

According to sources, Jewelry Television COO Joe Fields late this afternoon informed all Shop at Home staff that, given the company’s performance and repeated attempts at a turnaround, they have been put on 60 days notice of termination.

Jewelry Television, founded in the 1990s by former Shop at Home executives, agreed in June 2006 to buy and continue to operate some of Shop at Home's assets, saving a significant number of jobs in the process.

At the time, sources gauged the price tag of that deal in the $20 million to $50 million range.

Now, less than two years later, the Knoxville company appears to be cutting its losses, with a full shutdown of the company allegedly slated for between March 7 and March 21.

All told, it is unclear how many jobs will be lost. Sources told NashvillePost.com that individual meetings will be held to determine the fate of select employees, as Jewelry TV plans to absorb and continue operating an e-commerce unit.