Annual results for parent company DSG International reveal substantial loss following write-down of assets and drop in like-for like sales.
DSG reported a £140.4m pre-tax loss in its results for the 52 weeks ended May 2, 2009.
Total group sales were down 2% to £8,227m, while like-for-like (lfl) sales across the group slumped 9%.
The group, which owns the Currys, Dixons and Pixmania brands expects the "difficult economic background" and "subsequent impact on consumer spending" to continue throughout the coming year.
The firm also detailed how, in the 52-week period, it wrote off £190.9m from its UK, Sweden and Finland operations.
Total sales were down 9% across Currys, Currys.digital and Dixons Travel in the UK and Ireland, with lfl sales down 10%. DSG explained that the difficult trading conditions mean that the consumer environment deteriorated in this sectors, with white goods particularly hit by the slowdown in the housing market. However, it states that this sector has shown "signs of stability in the latter part of the year."
Profits in DSG's e-commerce division doubled to £15m in the 52-week period, with total sales reaching £807.4m.
Pixmania, which offers electrical goods, home appliances and outdoor living ranges, performed well in most of its core markets, with sales up 15%.