Electricals retailer DSG is to close 77 Currys.digital stores over the next five years.

DSG International, owner of high street chains Currys and PC World, is to close 77 of its Currys.digital stores as part of a shake-up plan.

The move will bring Currys.digital’s store count to 100, with closures made as leases expire over the next four to five years.

Outlets in attractive catchments will be the focus for future trading, DSG said.

The closures are part of a wider business review which is aimed at cutting costs by up to £50 million in 2008/2009.

DSG also plans to focus on the growth of its internet market, which achieved sales of £1 billion in 2007/2008. Its PIXmania trading platform will also be rolled out in the UK by November 2008.
 
In addition, the group will open a large store covering 30,000 to 50,000 sq ft in the UK for Christmas 2008.

The announcement follows a difficult trading year for DSG which has seen it issue two profit warnings.

John Browett, Chief Executive commented: “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 UK.

“We will focus the business on delivering an unbeatable combination of value, choice and service for our customers.  This includes helping our customers with complete solutions such as connectivity, delivery, installation, repair and converging technology.”

For more information, visit www.dsgiplc.com

By Natasha Piscitelli