Kesa unable to turn chain around before sale to private equity house

Comet reports half-year loss

European electrical retailer Kesa has announced that Comet had a pre-tax loss of €9.2m (approx £8m) for the six month period to the end of October, which compares badly to a profit of €32.4m only a year earlier.

Struggling Comet is still on track to be sold to private equity house OpCapita for £2, as reported last month. Shareholders will be voting on the deal on December 15th.

But it’s not all doom and gloom for the retail chain – it recently joined up with eBay to make all of its products available directly to eBay shoppers via a new store on the auction site – and claims to be the first high street retailer to do so.

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