IT has been announced that almost 100 Carphone Warehouse stores will close this year in a major cost saving exercise initiated by the company’s  newly-installed chief executive Alex Baldock.

The plans announced by the retailer include the closure of 92 stores aimed at cutting costs and improving margins.

This will be another major jobs blow although the company insists that staff will be offered jobs at larger outlets at nearby stores. The closures will have a knock on effect within shopping centres and on the High Street where there is already a surge of shops closing their doors.

In recent months some of the biggest names in retail have announced store closures and huge job losses as retailers attempt to save costs.

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