Thu, 01 Nov 2012 | ADMINISTRATION
The electrical retailer Comet is thought to be close to administration, according to a number of reports.
The Financial Times and trade journal Retail Week have both reported that Comet's private equity firm owner OpCapita has lined up Deloitte to act as an administrator on the business. The news comes just two weeks after OpCapita stated that it was looking at a number of bids for the retail chain.
Comet is one of many traditional retailers that has struggled with a downturn in consumer spending of late. Many people are turning to online alternatives when buying electrical items due to the cost savings they are able to offer over high street premises.
This isn't the first time Comet has hit trouble. Last year it was sold to OpCapita for just £2 after its previous owner struggled to make a success of the 240-strong chain.
Sir John Clare, former chief executive of competitor Dixons Retail, came on board as chairman when the sale to OpCapita took place in a bid to help turn the fortunes of the company around. Sir John had claimed that the company could be revived despite the operational losses of £35 million highlighted by analysts' forecasts at the time of the acquisition.
The company offers a well-regarded own brand of hair care products focusing on hair growth and repair, featuring premium formulas that are natural, vegan, and cruelty-free. With a strong global presence and prestigious industry awards, the business h...
This business offers a cutting-edge process safety management platform with proprietary software that ensures proactive safety measures for both onshore and offshore assets. With a strong foothold in the oil and gas sector and recent expansion into i...
This business offers a comprehensive range of road surfacing and civil engineering services, supported by significant investments in state-of-the-art equipment and a recently acquired operational site in Scotland to optimise efficiencies. With robust...
03
|
Jul
|
Energy services firm completes third acquisition | BUSINESS SALE
Energy services firm Earnz plc has completed its third acqui...
03
|
Jul
|
Newcastle life sciences firm falls into administration and ceases trading | ADMINISTRATION
AMLo Biosciences, a life sciences firm based in Newcastle, h...
03
|
Jul
|
Matthew Freud exploring possible sale of eponymous PR consultancy | BUSINESS SALE
Leading public relations executive Matthew Freud (pictured) ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.