DSGi has sold its nine Electro World stores in Hungary for e1. All operations and staff will transfer to new owner EW Electro Retail, which is backed by a consortium of investors.
The deal follows the sale of DSGi’s loss-making Markantalo stores in Finland and its PC City operation in Sweden last month, and is part of chief executive John Browett’s turnaround plans.
DSGi’s operations in the Czech Republic and Slovakia remain and “continue to perform well”, according to the retailer. The Polish operations are still under review.
Seymour Pierce analyst Freddie George remained a buyer of the stock. He said: “This indicates management are keen to dispose of the loss-making subsidiaries.”