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DSG puts Electro World chain up for sale - paper

Sun Nov 9, 2008 1:26pm EST

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LONDON, Nov 9 (Reuters) - British electrical goods retailer DSG (DSGI.L) has put its loss-making Central and Eastern European store chain Electro World up for sale, Britain's Sunday Times reported.

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The newspaper said the retailer, whose brands include Curry and PC World, had hired Saski Partners, a small Polish corporate finance house, to find buyers for the division.

DSG, which is preparing for a poor Christmas holiday shopping season amid consumer gloom, is reviewing many of its operations as part of a restructuring. It has said in the past it did not rule out a sale of its Electro World stores.

A spokeswoman referred to a company comment in the Sunday Times story, which mentioned the strategic review of the company's businesses announced in May.

Electro World had 2006/07 sales of 160.3 million pounds ($251.5 million) in Hungary, Czech Republic and Poland, according to the latest figures on DSG's website. It also opened stores in Greece and Turkey in 2007. ($1=.6373 Pound) (Reporting by Georgina Prodhan, editing by Martin Golan)



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