Comet sold for less than the price of a pint

9 November 2011

new comet logo You can’t get much for two quid these days. We’re no mathematicians but we doubt you’d even be able to fill a carrier bag in Poundland for that amount. Mind you, if you were sharp enough yesterday, you could have bought Comet for that amount. Yes, Comet. The electrical retail chain. All of it. For two quid.

Comet’s parent company, Kesa, have dumped the beleaguered chain and are flogging it off for that nominal sum to a private equity firm called ‘Hailey’, who are being advised by retail turnaround specialists OpCapita.

The long-term future of Comet is by no means guaranteed by the deal – the new owners have promised to keep the chain running as a going concern for at least 18 months, although shutting down some of the 250 Comet stores in the UK is as inevitable as the sustained coverage of Frankie Cocozza falling out of nightclubs in the tabloid papers over that same period of time.

The announcement comes hot on the heels of Best Buy’s decision to close down their 11 UK stores and leaves Dixons Retail Group looking stronger than ever in the high street electrical retail scene. Mind you, in the kingdom of the blind, the one-eyed man is king. Eh? EH??

TOPICS:   High Street News

9 comments

  • clarence s.
    Hailey's Comet!! Baaaaaaaaaaaahhhh hahaha, hehehe.
  • oliverreed
    Hopefully we won't have to listen to that hag, Edith Bowman voicing over the ads anymore!
  • BowmanLover
    Edith Bowman..........HeHeHeHeHeHeHe..... I see Bitterwallet were late getting out of bed this morning. This story broke around 7am!
  • zeddy
    @Bowmanlover: That's because the silly bastards were still in their wanking chariots reading Marmalade Monthly and the Wheelie Bin Digest.
  • Michael
    It might have only cost £2 but the extended warranty would have bumped that up a bit.
  • Tim
    £2! Rip off. Go to Wetherspoons and you'll probably get change out of that for a pint. Rather a pint than owning Comet.
  • ExDsgibod
    @ Micheal If they're only guaranteeing an 18 month shelf life for Comet, in this case, I think an extended warranty might well be worth it...
  • Craig W.
    Yowzer! Comet cost twice as much as Rangers. Clearly Comet don't have a tax bill weigh a metric fuckton.
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