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Comet owner ‘exploring sale’

October 19, 2012

Private equity firm OpCapita, which bought UK retailer Comet less than a year ago for £2, is exploring bids to buy the business. BBC reports that it is examining a number of bids from interested parties.

Comet operates 240 stores in the UK. Sir John Clare, formerly chief executive of rival Dixons Retail, joined the business when Comet was sold to OpCapita.

Clare had argued that the business could be turned around, but its sales had fallen much further that of its peers, Dixons and Argos, over the crucial Christmas period in 2011.

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