Shares in High Street retail group DSG have dropped by 10% as chairman John Browett announced his recovery plan for the company.
Browett says that DSG has not kept pace with changing customer needs and has promised to ‘transform the very DNA of the business.’
His plans include closing at least 77 of the groups Currys.digital outlets over the next two years, along with a radical shake up of its Head Office and supply chain which is expected to save the business £50million, but will see the loss of up to 400 jobs.
DSG will develop larger supermarket size out of town stores for Currys and PC World as it focuses its future less on white good sales and more on portable technology.
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