Reports on Thursday suggest that high street electronics retailer Dixons will close over 100 further locations around the UK.

Proactive Investors reckons that the Dixons Retail group (which also owns Currys, PC World and Pixmania) will seek to reduce stores to between 420 and 400 locations.

More than 50 stores have already been axed in the last year, with 557 remaining open for business in the UK at this time.

The cuts are part of the group's Renewal and Transformation plan, which it hopes will save £90m over the next two years.

Delivering on a clear plan

Chief executive Sebastian James said: "Against a tough economic backdrop, we have continued to deliver on a clear plan to transform the business and today we are setting out our three strategic priorities to further improve our market position and build a business that is stronger, more profitable and sustainable."

It's not all doom and gloom for the well-known brand. Sales of Apple's new iPad tablet saw UK and Ireland profits grow to £79m in the year ending in April.

Via: Proactive Investors