Less than a month after Dixons reported sales had tumbled by 11% in the first quarter, the retailer has confirmed it’s planning say hasta la vista to its Spanish business, and will pull the plug by the end of the summer.
The electrical goods retailer, which owns Curry and PC World, has been in Spain for 10 years – but as consumer confidence weakened, the Spanish business made a loss. As many as 1,364 jobs are reported to be at risk as Dixons closes its 34 stores across Spain, which trades under the PC City brand.
The cost of pulling out of Spain will be around £30m, but it’s expected the move will reduce losses by around £5m a year. Out of the frying pan, and into el fuego….