DSGi posts £30 million loss

It's more bad news from the UK's high street retailers as the Dixons Store Group International has posted a massive multi-million pound loss.

In the last six months of trading the group - that covers PC World, Currys, Dixons and PIXmania - has reported a near £30 million loss.

Only DSGI's e-commerce businesses, PIXmania and Dixons.co.uk showed growth, up 9%, although the company did say its new format stores were doing well.

Dixons said: "The trading environment remains tough and volatile. The Group is prepared for a recessionary environment and is consequently focused on cash generation".