Darty to close Spanish business

Darty, the electricals retailer and former owner of Comet in the UK, said it is to close down its loss-making Spanish operations to focus on its profitable businesses in France, Belgium and the Netherlands. The company said yesterday that its 43 stores in Spain would close in June, resulting in 650 job losses. The closure is expected to cost around €30m as well as an extra €10m of non-cash write-offs. The group said that increasing the scale of its Spanish arm to a level where it could become profitable would take too long.