Retail chain cuts dividend and plans to close down up to 200 stores

DSGi to axe 200 stores

DSGi may close down as many as 200 of its 700 stores as new chief executive John Browett plans to shake up the retail chain.

Yet more stores could be converted into joint Currys and PC World sites as part of the new strategy.

Browett said that the firm “has to get the UK operation right”, though he added that it could take years to do so.

Meanwhile analysts estimate that DSGi’s dividend could be cut by up to 50 per cent.

The group has issued two profit warnings this year. Internationally, its French operation PC City was closed down last year and it was announced last month that 40 of its Italians stores would be closed over the next two years.

Link: The Sunday Times

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