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AO World has called time on its German operations, sending shares in the retailer sharply lower yesterday.
The electricals retailer, which sells laptops, fridges and washing machines, said it will close its business in Germany as the outlook for the region has continued to worsen.
The company launched a strategic review of its German operations in January after years trying to crack the eurozone’s largest economy.
At the time it admitted that competition had intensified. Online penetration had returned to pre-pandemic levels, while the global microchip shortage had resulted in widespread shortages of electrical goods.
“Having evaluated a range of strategic options during the review process, the board has decided that closure of the German business is the best course of action,” the Bolton-based company
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