Comet owner Opcapita in talks to sell the electronics retailer

 
Kasmira Jefford
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OPCAPITA is in talks with three potential suitors over the sale of electronics retailer Comet, which it acquired less than nine months ago.

The turnaround specialist is exploring a sale after receiving several unsolicited approaches. A person close to the deal told City A.M. the group is now holding talks with three interested parties including trade buyers from overseas and the UK.

Talks are still at an early stage and no bank has been mandated yet to conduct the sale process.

Opcapita acquired the business in February for £2 from Kesa Electricals – now known as Darty – which also paid a £50m dowry to offload the troubled retailer.

Comet’s chairman John Clare, the former boss of rival Dixons, said earlier this year that the group had made around £50m in savings and hoped to break even this year.

The group has cut staff numbers from 8,500 to about 7,000, in part by replacing full-time workers with part-time staff, closing a call centre in Hull and outsourcing services previously performed in-house such as repairs.