Category: Kesa Electricals

The Independent reports this morning that there are fears that the chances of Kesa Electricals selling Comet appear to be receding and today is the day for final bids to be tendered.

The retail restructuring specialist Hilco and the private equity firm OpCapita are through to the second round of bids for Comet, the ailing UK retailer Kesa Electricals is trying to sell.

It has been reported that Comet has told potential buyers of the business that they will have to take on a £50 million pension fund deficit in order to buy the company. 

Kesa is reported to be considering the sale of its loss-making British chain Comet after trade across the group worsened in its new financial year.

Bloomberg and the FT have reported that plans have been put forward for up to 22 Comet stores to be closed according to sources.

Bloomberg reports that someone “familiar with the matter” has said that Kesa Electricals largest investor asked the retailer to consider options that may include ending its unprofitable U.K. Comet operations and listing its shares in Paris.

Reuters have reported today that Kesa Electricals who operate as Comet in the UK and are Europe’s third-biggest electricals retailer said that Hugh Harvey, managing director of its Comet business in the UK, has left the firm.

Electrical goods retailer Kesa Electricals Plc which trades as Comet in the UK have posted a 71 percent fall in first-half retail profit, halved its dividend and said trading was set to remain tough, sending its shares 11 percent lower. Chief Executive Jean-Noel Labroue forecast “a very difficult…

It is reported today that analysts expect news of the worst underlying sales performance in more than a decade at Comet, when the parent company, Kesa, posts its interim results tomorrow. Credit Suisse expects the UK division to register a 13 per cent fall in like-for-like sales for the second qu…

Kesa Electricals, owner of the Comet chain, has warned that falling sales will lead to a loss in the first half. Like-for-like sales at its Comet stores sank 9.9% in the three months to the end of July, against a 0.4% rise in the first quarter