UK-based electricals retailer Dixons has closed all its Pixmania
stores and exiting 12 European markets in a bid to accelerate the
unit’s turnaround.
Pixmania has closed its stores in Belgium, France, Portugal and
Spain, but will continue online operations in those countries. It
has also pulled the plug on online stores in Austria, Switzerland
and Eastern Europe.
Dixons bought most of the outstanding shares in Pixmania in
August 2012 from founders Steve and Jean-Emile Rosenblum for
€10 million (£8 million, $12 million), and at the time
announced its intentions to restore the business to
profitability. Pixmania reported turnover of £665 million
for the 12 months ended 28th April 2012 and an underlying
operating loss of £20 million.
Share