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Suitors line up to buy Comet Friday, 19th October 2012
Image courtesy of Comet
Comet could be sold off to a competitor within the next few weeks as its owners, who took the business on just nine months ago, continue to receive approaches from potential buyers.
The identities of the interested parties are not yet known, but they are believed to include both UK-based and international groups.
The retailer has recently struggled to stay above water in the electricals market and was most recently expected to make a £35 million loss in the year to 30 April.
However, trading at the company is thought to have improved in recent months.
Originally, OpCapital promised to keep Comet for 18 months. If the company does offload the chain for more than £70 million, Kesa will claim a “nominal” additional payment. Other than that, it will receive nothing in return for its original £50 million “investment”.
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Posted in Deals and Takeovers, Electricals Tagged Comet, OpCapita, Kesa Electricals, Electricals, my, retail, media, news, Deals & Rumours
