Dixons Retail, Europe's number two electrical goods retailer, is closing its 34 loss-making stores in Spain shedding around 1,200 jobs.
The British group, which said last month it was looking at exiting Spain as it issued a profit warning, said today it made the decision to close its PC City stores in the country as a result of a continued weak consumer environment.
'The management committee of PC City has informed the employee representatives about the decision in order to start appropriate actions for the compulsory redundancy scheme which will be submitted to the relevant Spanish Labour Authority,' it said in a statement.
Dixons, which runs Currys and PC World stores in Ireland and Britain, is valued at about £440m sterling.
