The Channel logo

back to article Hungry bidders pick up Comet's blood trail

Restructuring specialists and private equity investors are among the suitors bidding to acquire flagging UK retailer Comet. According to reports in The Sunday Times, US investment house Gordon Brothers and Op Capita, one-time owner of Habitat and MFI tabled offers last week as the first round of the divestment process began. …

COMMENTS

This topic is closed for new posts.

Circling the drain.

The VC handbook....

1) Buy a firm at a low price.

2) "Leaverage" to the hilt and pay massive 'management fees' to your VC company

3) Liquidate assets and make massive layoffs in the name of "restructuring."

4) Pay massive 'management fees' to your VC company.

5) Repeat until victim.. erm I mean firm... is a shell and declare bankruptcy.

6) Profit!!!

3
0

Kesa Electrical?

I have to say, I look forward to them producing a barbecue. They could call it Kesa Sossy.

Of course, then they'd have to kill you and all your family, but never mind.

0
0
Bronze badge

Is it Comet's adverts...

...that have shop staff taking all the kit out of boxes and playing with it when (evidently) the shop's closed?

"Staff training" may be what we're asked to believe that they're doing in there.

1
0
Anonymous Coward

Training?

Well the staff certainly seem to need an awful lot of training IME.

0
0
Anonymous Coward

We don't need no stinkin' title

"Op Capita, one-time owner of Habitat and MFI"

Hmmmm, I sense a bit of a theme here.

1
0
Anonymous Coward

Are they still going?

It thought nobody with any sense still bought anything from them. I have had bad experiences with Comet going back thirty years or more. I gave up on them some time in the last century.

0
0
Silver badge

Given the option

I prefer them over whatever dixons are calling themselves these days.

The staff seem marginally less thick and spotty.

1
0
Bronze badge

Occasionally

Occasionally Comet have a good deal. But you have to know what you're looking for before you get there. I assume I've just been lucky to grab the 'one-in-a-shop' loss leader deals.

Electricals are always going to struggle right now. It takes the price of a small LCD TV to fill me car these days. Possibly a new unit for El Reg financial stories?

I'd like a new telly but I need food and petrol more.

0
0
Headmaster

Restructuring specialists and private equity investors

A long winded way of saying "Asset Strippers"

2
0
Mushroom

Not French?

You say 'French owner Kesa Electricals'.. but I was under the impression it was Kesa Electricals plc, listed on the LSE, and registered in London??

0
0
This topic is closed for new posts.

Forums

Opinion

Walking on water, image via Shutterstock

Chris Mellor

IDC stats reveal who's who in the backup appliance bearpit
Carry on Cleo

Gavin Clarke

Infamy, infamy, Amazon and Microsoft have all got it in for me!

Tim Anderson

Also signals stronger cross-platform tools, access to new markets

Features

Shouting match
Single market vs. rest of the world
hacker
Mostly it's financial crime. Here's what all the cool kids' terms mean in English
Apple logo. Pic: Blake Patterson
Plenty of bumps in the 40-year road for Mac makers
single pain of glass