February 2024 ertonline.co.uk


disposable has gone; he thinks consumers have adopted a new eco-friendlier mindset. Currys’ repair technicians either strip out reusable machine parts, and then the retailer resells items or donates them to charity. Its Cash for Trash scheme encourages customers to bring in old tech to be reused or recycled and offers them a £5 in-store voucher. Mr Rosenberg added: “All the components are


incredibly useful as they can be harvested for parts so we can repair other similar products. Or it might be able to be repaired. That’s why we always encourage our customers to trade in or recycle their old tech.”


Currys: ‘2024 marks the end of throwaway culture’


Retail giant Currys has been commenting on how the UK is beginning to turn a “throwaway culture” into a refurbish and reuse culture, with a growing number of repair centres and its own team of in-house “fixperts”. The UK is the world’s second largest producer of electrical and electronic equipment waste; with half a billion items going to landfill each year, it is estimated that by the end of 2024 the UK is expected to top this wasteful table.


David Rosenberg, Service Operations Director


at Currys, explained that many of the parts inside appliances and electricals continue to hold their value after consumers no longer want them. He said: “All the components are incredibly


useful as they can be harvested for parts so we can repair other similar product, or it might be able to be repaired. That’s why we always encourage our customers to trade in or recycle their old tech.” Mr Rosenberg said that the idea of tech being


which will create a new division dedicated to electrical retailers and repair agents. The decision had been made with “careful consideration”, the Retra board said last month when it announced its intentions to close, and it believes that as part of BIRA it will better serve the needs of its members in the “ever-changing” landscape of the electrical retailing industry. A vote took place at Retra’s Extraordinary General


Retra to close next month


Retra has announced that it will close on 31 March 2024, after nearly 82 years. Members will be offered the chance to become part of BIRA (the British Independent Retailers Association),


Meeting (EGM), which was held on 1 February; at the meeting, 98 per cent of the group’s members voted for the closure. In partnership with BIRA, Retra is offering all of its


fully paid-up members – as of 31 October 2023 – one year’s free membership of BIRA. This cost will be covered by Retra and the membership will start from April this year. In addition, Retracare’s insurance offering will continue through the Pacifica Group, and the financial services company, Novuna, will also support any existing and new dealers directly.


£700m takeover bid rejected In other news, Currys has reportedly rejected a £700m takeover bid from US investment firm Elliott, claiming that the offer “significantly undervalued” its business. The retailer said in a statement: “The board confirms that it received an unsolicited, preliminary and conditional proposal from Elliott regarding a possible cash offer. [We] considered the proposal, together with [our] financial advisers, and concluded that it significantly undervalued the company and its future prospects.” Elliott, which brought UK bookshop chain


Waterstones in 2018, is one of the largest activist funds in the world. It has a reputation as an “activist investor”, which means it purchases minority stakes in publicly traded companies and changes how they operate. Currys recently reported of its “healthy financial position” despite seeing its UK and Ireland sales decrease by three per cent.


Howard Saycell, Retra CEO, said that the association understands that this news may come as a surprise to some people, and that the team is available to address any questions or concerns members may have during this transition period… “Your satisfaction and continued success are of


utmost importance to us,” he commented. “Rest assured that our commitment to the industry remains steadfast, even as Retra closes its doors.” Mr Saycell (pictured left) added: “Thank you for your understanding, support, and dedication to Retra over the years. We believe that with the support of BIRA and the continued efforts of Retracare and Novuna, our industry will thrive despite these changes.”


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36