Currys not so hot; SHOPS: yourmoney.

Byline: CLINTON MANNING

THE housing slump and cut-throat competition from the internet has sent the owner of Currys crashing to a pounds 140million loss.

It is the second year running that DSG International, which also owns PC World, has been deeply in the red. And boss John Browett admitted the recession meant the next 12 months would be tough too.

Sales of washing machines, cookers and fridges at Currys were hit by the sharp drop in house building and people moving.

Profit margins were squeezed as it cut the price of TVs to match internet rivals.

But Browett is working to improve things - promising to revamp stores and retrain the stores' 20,000 staff.