Once bitten, twice shy for Dixons as it vows to shun the internet
Saturday 28 September 2013
Sebastian James, the boss of Currys and PC World owner Dixons, has vowed to stick to the High Street in the future after the sale of its loss-making online-only business Pixmania came a step closer.
He said: “What we’ve learned is we win when we do what we know, which is working as a multichannel retailer and as the market leader or a strong number two. Pixmania was neither of those things. While it has lots of assets, it’s not our cup of tea and not what we do. We will stick to what we know and leave online-only to others.”
A deal to offload the French business to German restructuring specialist Mutares AG is now just months away after it was signed off by unions. Dixons will pay £59m for future development of the online electrical retailer, trading in 14 countries, bringing the total cost of the venture to around £250m since bought in 2006. The City approved the deal, as shares hit a five-year high.
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits record low as popularity suffers in wake of Ukip sex scandal
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Germany sees 'visible rise' in support for far-right extremism in response to perceived 'Islamisation' of the West
iJobs Money & Business
£32000 - £35000 per annum + benefits: Ashdown Group: Marketing Services Manage...
£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...
£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...
£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...