Hannover House, Inc. (OTC: HHSE) announced that it has formally relocated its corporate offices and warehousing facilities, effective Thursday, November 3, 2016. The new offices are located at 300 N. College Ave., Fayetteville, AR 72701, and will house all managerial, accounting, production, marketing and sales personnel and activities. The company is moving all of its large warehousing activities to two off-site service providers, with Technicolor Labs in Memphis, TN handling the company's primary new release shipments to Walmart, Best Buy, Target and Redbox, and A-Advantage Warehouse in Springdale, AR handling smaller product orders and merchandise returns. One of the offices in the new Fayetteville headquarters will be dedicated for pick-and-pack fulfillment of small product orders and sales kits.
"This is a timely move for the company as it reflects our enhanced activity into theatrical releasing, video-on-demand streaming and feature film productions," said Fred Shefte, President. "These moves are in response to a streamlining of the activities and infrastructure that were previously needed for a DVD-driven business model. DVD and BluRay sales have become less essential to our revenue model, so maintaining a large warehouse was no longer cost-effective. There are also overhead savings in terms of reduced rent, the elimination of warehousing personnel, as well as a significant monthly utility savings from not needing to heat and cool over 6,000 square feet of warehouse storage."
Hannover House has been operating out of an office-warehouse combo unit at 1428 Chester Street, in an industrial park area of Springdale, Arkansas since March, 2008.
"We're getting out of the 'warehousing' aspect of our business," Shefte continued. "Technicolor and A-Advantage can store and fulfill orders at a fraction of the cost, and free us to focus on the more lucrative aspects of our evolving industry."
Affiliated entities of Medallion Releasing, Inc., Vodwiz, Inc. and Bookworks, Inc. will also be relocated to the new Fayetteville executive offices.
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