2/22/2013 10:09:29 AM
Carphone Warehouse 'puts French retailer Phone House up for sale'
Carphone Warehouse has reportedly put its French retail operation up for sale, as it continues its restructure to focus on its core business.
The Financial Times said the Phone House business, which comprised almost 250 shops and hs sales of around €300m, is under strategic review. The retailer's management launched an overhaul of the business last year, which led to the departure of former UK MD Matt Stringer and a change in its buying methods. The report said several companies have already expressed an interest in the business but a final decision on if it will be sold or not will be made by the end of March.
The French retail market has been a challenging one for Carphone Warehouse Group, with the retailer under pressure with the rise of Sim-only deals and increased competition between carriers. However, the report added that Carphone Warehouse Group's stake in Virgin Mobile France is not up for grabs.
A spokesperson for Carphone Warehouse was unavailable for comment.
Author: Graeme Neill