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. …
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.
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.
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.
Well the staff certainly seem to need an awful lot of training IME.
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.
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.
Given the option
I prefer them over whatever dixons are calling themselves these days.
The staff seem marginally less thick and spotty.
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.
Restructuring specialists and private equity investors
A long winded way of saying "Asset Strippers"
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??