PC World and Currys owner DSG International has launched a review of the company that is likely to lead to the closure of almost half of its Currys.digital high street stores.
The group said it had put a five-point plan in place to turn around the fortunes of the company and to reduce costs by £50m this year.
Part of that plan is to turn around the
The group said that while the majority of its 177 Currys.digital stores made a positive contribution to the firm, there were only 100 stores in “attractive catchments that will most likely be the focus for future trading”.
The remaining stores will be closed as their leases expire. The average high street lease has four to five years remaining.
Chief executive John Browett said: “’DSGi has many inherent strengths as a leading specialist electrical retailer, including market leading positions and strong supplier relationships. However it has not kept pace with its core customer needs, particularly in the
He added: “We have developed radical and detailed plans that will transform the very DNA of our business over the next three years.”
