Dixons to close Monmouth store (From Free Press Series)

Dixons to close Monmouth store

ELECTRONICS giant Dixons has confirmed rumours that the Monmouth branch is to close as part of a radical shake up of the company.

The Monnow Street store is one of the 106 under performing sites across Britain that are to be axed as part of the organisations cost cutting measures.

It is thought that, while many of the stores were running at break-even, they made losses after taking central costs into account.

A company spokesman said: "The organisation will negotiate with the branch's manager Ian Woodfield and his staff as part of a 90 day consultation period.

"We will be offer them jobs within other stores in the group, however, we expect that the Monmouth branch will close within the next eight weeks."

The management of the Dixons Group, which also owns Currys, PC World and The Link, lost patience with the smaller shops following a prolonged period of disappointing sales from the division.

The company has recently been piloting a format known as Dixons XL - at Cardiff and Swansea, and two cities in England.

Dixons originally began life as a single photographic studio in 1937 and currently has more than 1,400 stores worldwide.