Following its recent Carphone Warehouse merger Dixons sells off its C. European ElectroWorld operations to NAY, another CE specialist retailer in the region.
The asking price for the 26-store chain spread across the Czech Republic and Slovakia? A "small deferred cash consideration" payable over the next 3 years. However the operation was not going too well, having lost £5.6 million in the fiscal year ending April 2014.
"I am very pleased that we have been able to secure a strong future for Electroworld who will be able to flourish as a part of the NAY Group in Central Europe," Dixons CEO Sebastian James says. "Following this transaction Dixons will be a market leader in every market in which it operates, delivering on one of our key strategic objectives."
On September 2013 Dixon sold the Turkish portion of ElectroWorld to local CE specialist Bimeks for £2 million, before it unloaded the Italian Unieuro business in a merger with SGM Distribuzione (aka Marco Polo).