Tue, 23 Oct 2012 | BUSINESS SALE
The owner of electrical retailer Comet is understood to be exploring a sale.
Although private equity firm owner OpCapita has not formally put the business up for sale, reports suggest that it is looking into a number of bids from different interested parties.
OpCapita originally bought Comet earlier this year for the nominal sum of £2. This also came with investment from the previous owner Kesa of £50 million.
The change of ownership came with a change of leadership with Sir John Clare, former chief executive of Dixons Retail, joining Comet as chairman on the same day as the sale to OpCapita was finalised
Despite the dismal forecasts from analysts highlighting significant operational losses, Sir John believed that the firm could be turned around. And he has delivered on his word, stating earlier this year that the group has made around £50 million in savings and hopes to break even this year.
It appears he isn't alone in this view as the firm has received a number of unsolicited approaches regarding a sale. The group is now holding talks with three interested parties, according to City A.M.
Bring to the market this leasehold specialist car sales and servicing facility located in Horncastle, Lincolnshire. The trade was established as a limited company in 2005.
LEASEHOLD
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user. A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform...
Bringing to the market this denim and casual wear retailer, boating a user friendly comprehensive online presence.
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