USwitch to be sold at a substantial loss

Tue, 04 Aug 2009

Price comparison service website USwitch has been placed on the market three years after US media company Scripps Networks Interactive bought it for £210m.

Allen & Co has been hired to manage the sale of the underperforming business, which could now sell for less than £50m.

Scripps may find it difficult to sell the business, which has been subject to changes in consumer trends.

While the website thrived in 2005 as energy bills increased dramatically, soon after the purchase in 2006 many consumers stopped using the service to switch suppliers. Consumers then took to the option of fixing energy bill prices in 2008, which was a further knock to USwitch.

Former PricewaterhouseCoopers financier, Andrew Salmon, and cousin to the Queen, Lord Milford Haven, set up the business in 2000, in order to take advantage of deregulated gas and electricity markets.

It has emerged that the founders could be interested in making a £15 - £20m offer for the business to merge it with price comparison website Kelkoo, which was purchased last year through their investment company, Jamplant.


Subscribe today to read and search all our news, premium articles, business sale listings and buy/sell resources.


Latest Businesses for Sale


Printers/ Stationers - Andover, Hants

Asking Price: 
Turnover:  £640,000
Location: 

Digital printing specialists, commercial and retail stationers, lithographic printing and various ancilliary services. Freehold retail shop and long leased factory unit. Sale price includes all equipment and properties. NP £80k...


Hotel Accommodation - Folkestone

Asking Price: 
Turnover:  £500,000
Location: South East

Three Victorian houses joined together to form a luxury 8,500 sq. ft. facility. Includes reception, two lounges, four dining rooms, 16 en-suite bedrooms, music room, two kitchens, conservatory, bar, sauna, hot tub and more...


Suppliers of Souvenirs - Derbyshire

Asking Price: 
Turnover:  £1,200,000
Location: East Midlands

With over £60k worth of trading, the company has a very reputable name within the tourist and leisure market. Excellent potential...


View More Businesses for Sale >>