The Press Association reports that Dragons’ Den star Peter Jones is understood to be in the running for a top post with beleaguered electricals retailer Comet.
The multi-millionaire telecoms entrepreneur, is being lined up as executive chairman at Comet by turnaround company Hilco, which is planning a bid for the firm, The Sunday Times has reported.
Comet’s current owner Kesa Electricals, which recently reported a plunge in sales at the firm, put the 248-store chain up for sale in the summer but has yet to update the market on any potential buyers.
However, Hilco and Opcapita, a buyout vehicle founded by Henry Jackson, the former owner of MFI, are believed to be the only parties to have made bids.
Mr Jones, who would only take a “figurehead role”, is likely to move Comet away from low-margin white goods, such as fridges and washing machines, and towards higher-margin products such as smartphones, laptops and tablet computers.
The “dragon” is chairman and chief executive of Phones International Group, the telecommunications business he founded in 1998.
Mr Jones, who according to the Sunday Times Rich List is worth around £220 million and is the longest serving dragon on the popular BBC show, would bring his experience as the head of a major distributor of mobile phones, accessories, data communications and telecoms services to the table.
Kesa, which also owns Darty France and Dutch retailers Vanden Borre and BCC, reported a 9.9% decline in overall group sales between May and July 31, driven by a 22% drop in same-store sales at Comet.