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Comet owner OpCapita 'exploring sale' | Comet owner OpCapita 'exploring sale' |
(about 7 hours later) | |
Private equity firm OpCapita, which bought electricals retailer Comet less than a year ago for £2, is already exploring bids to sell the business. | |
The BBC understands that, while the business has not formally been put up for sale, it is examining a number of bids from interested parties. | The BBC understands that, while the business has not formally been put up for sale, it is examining a number of bids from interested parties. |
Comet was sold to OpCapita in February for the nominal sum of £2, with its previous owner Kesa also investing £50m into the retailer. | Comet was sold to OpCapita in February for the nominal sum of £2, with its previous owner Kesa also investing £50m into the retailer. |
Comet operates 240 stores in the UK. | Comet operates 240 stores in the UK. |
Sir John Clare, formerly chief executive of Dixons Retail, joined the business as chairman on the same day the Comet sale to OpCapita was finalised. | Sir John Clare, formerly chief executive of Dixons Retail, joined the business as chairman on the same day the Comet sale to OpCapita was finalised. |
Sir John had argued that the business could be turned around, despite analyst forecasts at the time of his appointment pointing to operational losses of £35m. Its sales had fallen much further that of its peers, Dixons and Argos, over the crucial Christmas period in 2011. | Sir John had argued that the business could be turned around, despite analyst forecasts at the time of his appointment pointing to operational losses of £35m. Its sales had fallen much further that of its peers, Dixons and Argos, over the crucial Christmas period in 2011. |
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