0 £0.00
This item was added to your basket
Powered by
Credit Strategy homepage

Dear visitor,
You are viewing 1 of your 1 free articles


We’ve invested in our content to provide more news, analysis, features, interviews and opinions across a wide range of Credit and Financial Services. Register now to access more of the trustworthy, insightful information that’s on offer.

Register now or Login

Carphone Warehouse to shut 531 standalone stores

Nearly 3,000 jobs are at risk at Carphone Warehouse after the retailer announced it would close 531 of its standalone stores across the UK.

Share on LinkedInShare on TwittereCard

The company cited changes in the way people shop as the driving force behind its decision and stressed its 305 stores inside larger Currys PC Worlds around the country would remain open.

 

It added that the Covid-19 outbreak has no bearing on the decision.

 

Almost 40 percent of staff – around 1,800 – affected by the closures are expected to take new roles in the business, it said.

 

The small standalone stores, representing around eight percent of Dixons Carphone’s total UK selling space, will close on April 3, 2020.

 

Group chief executive Alex Baldock said consumers are increasingly buying online and from its large stores, which sell computers and televisions, as well as mobiles, instead of its smaller, standalone mobile shops.

 

Baldock said: “Customers are changing how they buy technology, and Dixons Carphone must change with them. We’re underway with a fundamental transformation to do so. Today’s tough decision is an essential part of that, the next step in making our UK mobile business a success for customers, colleagues and other shareholders.

 

“Clearly, with unsustainable losses of £90m expected this year, mobile is currently holding back the whole business. There’s never an easy time for an announcement like this, but the turbulent times ahead only underline the importance of acting now.”

LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

Mazars appointed as trustees to ex Russian bankers guilty of multi-billion dollar fraud

Mazars appointed as trustees to ex Russian bankers guilty of multi-billion dollar fraud

Corporate insolvencies down year-on-year, but bleaker picture lies behind numbers

Corporate insolvencies down year-on-year, but bleaker picture lies behind numbers

Spike in IVAs drives up personal insolvencies in April

Spike in IVAs drives up personal insolvencies in April

Upcoming events

Credit Awards

Parliamentary Reception

Women in Credit Awards

Credit 500 Gala Dinner

Our partners

Manolete Partners
Any Stock Buyer
Therium
Debenhams Ottaway
Nexia International
Quantuma
Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group