Wed, 21 Mar 2012 | DIVISION SALE
OpCapita, Comet’s new owner, has unofficially placed 61 of the electricals stores on the market as it prepares to negotiate terms with Comet’s landlords.
Henry Jackson and Mr Clare of OpCapita are due to meet with Comet’s landlords next week to discuss plans and its rents, The Times reported.
61 stores have been earmarked for disposal with property agents already circulating information on the sale, which would comprise 34 underperforming stores and another 37 it would sell if it can secure a premium figure higher than the store makes in yearly profits.
Comet currently operates from 243 stores across the country with an 8,000-strong workforce. The possible sale casts some uncertainty over the employees’ future. Stores set for a sale are located in Cambridge, Telford, Arnold, Nottingham and Rugby, amongst other places.
Plans to cut about 750 jobs in Comet’s service and repair operations this year are already in place. Its previous owner Kesa had placed an emphasis on after-sales care inspired by the success of its French business, Darty.
Comet has faced rising competition from supermarkets and internet sellers of electrical and white goods in the past few years. It is expected to announce losses of £35 million for 2012, after making losses of £8.9 million last year. Sales are forecast to be down from £1.5 billion last year to £1.3 billion this year.
Discover a unique opportunity to acquire an innovative e-retailer specialising in children's clothing, renowned for delivering cutting-edge brands and technologies.
A specialist builders’ merchant with a robust client base, boasting over 124 active clients with 80% providing repeat business. The business is supported by an experienced and dedicated workforce, ensuring smooth operations and high staff retention....
A business predominantly supplying niche floor treatments is exclusively being marketed for sale. Located in Essex, it is one of the largest suppliers in the UK and a dominant player in the South and South East.
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.