Dixons Closes All Pixmania Stores as It Reduces Internet Sites
Stock Chart for Dixons Retail PLC (DXNS)
Dixons Retail Plc (DXNS), the U.K.’s largest electronics retailer, said it has closed all of its Pixmania stores and reduced its online markets to 14 from 26 as it seeks to turn around the unprofitable unit.
Pixmania has closed about 30 outlets, including stores in Spain, Portugal and Belgium last month and 10 shops in France last weekend, spokesman Mark Webb confirmed by phone. Online Pixmania operations will continue in those countries. The company has exited 12 online markets across Austria, Switzerland and eastern Europe, he added.
Dixons bought most of the outstanding minority of Pixmania in August after the division reported a loss of 20 million pounds ($30 million) in the year ended April 28. The retailer is reducing its operating markets and scaling back the product offering to electronics such as tablet computers and cameras and dropping beds, jewelry and baby clothes.
Le Figaro newspaper reported today the retailer closed 10 French stores and fired 150 employees, citing Pixmania’s chief Phil Birbeck.
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