Rumour mill has Comet up for sale again

Speculation mounts that private equity owner OpCapita is talking to potential suitors for the retailer it bought nine months ago

Electrical retailer Comet is once again the subject of sale speculation as rumours mount over its future with current owner OpCapita.

The private equity firm bought Comet for just £2 in February, with its previous owner Kesa ploughing a reported £65m into the business to keep it running.

Various reports today, including from the BBC and Sky News, claim a number of bidders have approached OpCapita with the aim of taking over the retailer which has about 235 UK stores, after five have closed in the past year.

Former Dixons boss John Clare was unveiled as the new chief of Comet in February, claiming the retailer could be turned around as he "took the firm back to its roots".

In a statement at the time, he said: "I have known this business since the 1980s, and giving value to customers is what is embedded in its roots.

"...it is our objective to get it back to an ebitda profit as soon as possible."

CRN was awaiting a statement from Comet and OpCapita as this article was published.