DSG International, the parent company of Currys and PC World, slumped to a record low as the cost of insuring its debt spiralled and rumours swirled of tough trading and further problems with credit insurance.

Its shares closed 31.3 per cent lower at 11p, as traders learnt that the cost of insuring €10m of DSG bonds against default over a period of five years was an up-front payment of €3.3m and then annual payments of €500,000.