Nay, a Slovak chain selling electronics, is buying 26 Electroworld outlets in the Czech Republic and Slovakia from the British group Dixons. The value of the transaction has not been disclosed, according to the the server aktuálně.cz. The deal opens way for Nay to the Czech market and will bring the number outlets it operates to 57. The company plans to keep the Electroworld brand in the Czech market.
Electroworld has been in the red in the fiscal year that has ended in April. It recorded a loss of GBP 5.6m (CZK 188m), while revenues totaled GBP 129m. The transaction should close in summer, subject to approval by the antimonopoly office.
