The retailer said the decision to close the concessions was by mutual consent, following a review of the business. The venture was not making enough sales to justify its continuation.
Analyst Seymour Pierce estimated the loss on the venture this year to be about£5 million, against a projected loss of£2 million. The 130 concessions lost£5 million last year.
The exit cost for MFI will be£5 million, with an additional£3 million taken off the retailer's group operating profit. The closure programme will take place between July and September. All customer orders and after-sales service agreements will be honoured.
MFI chief executive John Hancock said: 'Hygena at Currys has been a worthwhile experience for both sides, but we cannot justify continuing the partnership. Our focus now is working with those colleagues affected to consider options