The owner of Currys and PC World made an annual loss of 140.4m after closing parts of its business and writing down the value of some of its firms.

DSG International saw like-for-like sales slump in the year to 2 May as customers cut back on electrical goods.

And it added the "difficult economic backdrop across Europe and subsequent impact on consumer spending" was expected to continue.

The firm wrote off 190.9m from its UK, Sweden and Finland businesses.

Pre-tax profits, without the exceptional items, fell by 77% to 50.5m.

Ouch, so that's alongside Kelsa (Comet) who also posted a massive loss recently. And Bestbuy havent even launched yet!!

I wonder if the government will offer any financial help to the retail technology sector, these companies employ far more people than the car industry and the sector has a much more viable future...

BBC News Report