Comet (UK)

Comet was a major electrical goods retailer in the UK, selling a range of household appliances and consumer electronics. In 2011 it had around 245 stores across the country, with sales of 1.5bn. Until that year, it was the local subsidiary of Kesa Electricals, Europe's third-largest electrical goods retailer, operating in several countries across the region. Kesa had itself been spun off from Anglo-French DIY retail group Kingfisher in 2003 to house Comet and its French counterpart Darty. However, Comet delivered poor performance in the hard-pressed UK market for several years and was sold to private equity buyer OpCapita in 2011 for a nominal price. With no significant improvement in performance, Comet ran out of cash the following year and finally called in administrators in November 2012. No buyers were found for the existing retail business, causing all stores to close at the end of that year. Kesa Electricals changed its name later that year to Darty Group, operating the Darty brand in France, Vanden Borre in the Netherlands and BCC in Belgium. In 2016 it was the subject of a bidding battle between French chain Fnac and South African group Steinhoff. Fnac appeared to clinch victory with an offer that valued Darty at £900m. Adbrands no longer profiles this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.

Capsule checked 12th May 2016

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