Electricals retail group Dixons Retail is to shut all of its Pixmania stores and exited online markets as part of a turnaround strategy, it has been announced today.
Pixmania has closed approximately 30 stores across Europe since the start of the year, including units in France, Spain and Portugal while it is also reducing the scale of its product offering.
Dropping its ranges of beds, jewellery and baby garments, the retailer is expected to focus on electricals and the move has caused 150 redundancies, according to Le Figaro newspaper.
Last month, Dixons reported steady sales over the Christmas period across its UK operations though sales in Southern Europe saw a considerable decline as like-for-like sales in the region fell eight per cent.
Pixmania reported a “disappointing” Christmas though the group was quick to point out that its restructuring plans for the Pixmania brand aimed at improving its long-term financial position.
Commenting on future plans following the results last month, Dixons CEO Sebastian James explained: “In the year ahead, while we will manage our cost base cautiously, we see many opportunities to improve the overall performance of our Group through further developments in our service offer for customers, sharing best practice, controlling costs and focusing on multichannel growth.”