Electricals chain Comet has been sold for a mere £2, although parent firm Kesa has said it will give the new owners - private-equity house OpCapita - an additional £50 million investment. It will also retain liability for Comet's current benefit pension scheme.
The Guardian reports that OpCapita has no immediate plans to make redundancies or to start a significant store closure program.
Kesa had been considering options for Comet since June, so this sell-off is not unexpected. Comet has just posted a sales fall of 19 per cent for Q2.
The sale of Comet for £2 follows soon after the news that Best Buy UK is to close. It seems it's an interesting time for big box retail.
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First comment on new site :D
Trouble for bricks and mortar retail? More to be discussed at London Games Conference tomorrow (Thursday 10th Nov) from 3.15pm at One WImpole Street, London. A couple of tickets left, email any member of the PCR team for a ticket.
Rob Baker PCR STAFF
0 0Nov 9th 2011 at 4:33PM