New large format stores to combat arrival of Best Buy

Currys to launch new megastore chain

Currys parent DSGi will this week announce plans for a new set of Currys megastores, which will be very large format and designed to combat the arrival of US electrical retail giant Best Buy later this year.

According to The Observer, chief executive John Browett will launch a ‘charm offensive’ on the city tomorrow, giving analysts and investors a tour of the first new format site in Birmingham, in a bid to secure a rights issue and generate more liquid capital.

The Birmingham site is 55,000 square feet, and will provide the template for a further five stores across the UK. An area in New Maiden has already been secured.

The stores will be the largest in DSGi’s portfolio, as well as the biggest electrical retail site in the UK – though specific sizes of the soon-to-launch Best Buy sites are yet to be revealed.

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