UK electricals retailer AO World to close German business

Published by
Reuters UK

LONDON (Reuters) – British online electricals retailer AO World will close its business in Germany as the outlook for the unit has continued to worsen, it said on Thursday. AO, which sells washing machines, refrigerators, cookers and televisions, launched a review of the German business in January. At that time it highlighted an intensifying competitive landscape as customers returned to pre-pandemic levels of online shopping, a substantial increase in digital marketing costs, and a constrained supply chain. “Having evaluated a range of strategic options during the review process, the board ha…

Read More