Comet sold for less than the price of a pint
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??