Discussion in 'General Board' started by Pred, Nov 9, 2011.
The buyer is a group of companies under the name Hailey Holdings Ltd, advised by retail turnaround firm, OpCapita LLP
it will now be known has hailey's comet
they shouldn't have sent to d/l - would have got a higher price
I don't remember seeing that in the bagrain basement here?
they think they got a bargain at 2 quid but they forgot there is the nominet transfer to pay on comet.co.uk lol
A different report said that the new buyers were committed to operating Comet "for at least 18 months" which sounds rather like buyout speak for "bankruptcy in 18 months and a day if it doesn't turn a profit."
It's tough out there. It's not that surprising to see a company like Comet having difficulty in the current climate. After all, it's been a massive reversal in conditions, plus most people have a flat screen TV now.
Too many eggs in one basket - they must've been raking it in upto 3 years ago...time to diversify.
correct ? this probably includes all stock inc. warehoused stock ,so they buy the business for £2 ask the creditors for a huge markdown of goods held and the permission of the creditors , a nice backhander from the government for keeping people in work (temporary) and run it into the ground for a nice return ,whats the story ?
it goes on every single day
Stores like this are really going to struggle due to economic climate and of course fierce competitive pricing on the net....BestBuy victims of this too in a similar industry.
I took one look in a BestBuy a few months ago and saw high prices - higher than supermarkets and online retailers - surprised they lasted as long as they did. They weren't established long enough in the UK to have any brand commitment with consumers, and not competitive on price. No brained really.
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