The electrical retailer’s revenue in Europe fell 3.4% to €75.7m for the six months to September 30 as adjusted EBITDA losses widened to €15.9m during the same period.

Its operations in the Netherlands currently make a loss of €6m and Roberts admits AO does not have the “management bandwidth” to fix it over the next year or the £10m it would “burn through” to save it.

Roberts says his approach to the Netherlands business was a mistake. Rather than rolling out the same strategy from the UK, AO followed a trial-and-error process as it went along, which has ultimately backfired.

After handing over too much responsibility “too early” to local teams, Roberts had to make a “tough decision” and will be closing the business in the Netherlands to focus more on the much bigger – albeit also struggling – market in Germany.