The Independent reports at the weekend that Comet’s parent company, Kesa, is thought to be planning to pick up the tab for the Comet pension fund to ease a sale of the struggling business.
Kesa has been in discussion with company turnaround firm Hilco and private equity OpCapita to sell the 240 store chain.
The pension deficit of around £49m has been a sticking point of the sale as bidders were requesting a dowry of more than £150m to take on the firm. It is thought Kesa, after talks with the pension regulator, could agree to keep the scheme, paying into it over the next 10 years, while selling the Comet business separately.
Hilco and OpCapita are now vying for the chain without the pension scheme liability and are discussing the terms of a deal including a working capital dowry of around £50m.
Meanwhile late on Thursday Kesa was in the spotlight as traders got their first chance to react to news that activist investor Knight Vinke, which has been trying to push through change at the eletrical goods retailer and encourage the disposal of Comet, has reduced its shareholding to 18.12pc from 20pc. Kesa announced news of the reduced shareholding on Thursday evening after the market closed.