November 12, 2012

Shop Direct is likely to buy flagging UK retailer Comet

UK-based multi-channel retailer, Shop Direct, is looking to acquire the flagging brand and website of British electrical retailer, Comet, which is set to close few of its stores.

By admin-demo

UK-based multi-channel retailer, Shop Direct, is looking to acquire the flagging brand and website of British electrical retailer, Comet, which is set to close few of its stores.

Comet has collapsed into administration last week just nine months after OpCapita had acquired it. The UK retailer has appointed Deloitte as administrator.

The administrators of Comet are already offering a 10% discount in stores, a move to clear the unsold stcok.

Discount retail chain, B&M Bargains, the single price retailer 99p Stores, and the homewares chain Dunelm are also among those looking to buy Comet’s shops on both short and long-term leases.

The failure of Comet, is expected to result in a sales boost for Dixons.

Woolworths brand was brough by Shop Direct from Deloitte in early 2009 and rebranded the collapsed pick ‘n’ mix chain as an online retailer.

Founded by George Hollingbery in 1933, Comet has more than 6,600 staff and 236 stores, is already offering a 10% discount in stores.

Comet offers a wide range of electrical products including kitchen and home products such as dishwashers, fridges, freezers, cookers, microwaves, vacuum cleaners, and heating and cooling appliances.

It aslo offers blu ray products such as television, digital recorders, DVD players, home cinema systems, TV and DVD accessories, computers, desktops, laptops, notebooks, iPod, printers, scanners, data storage devices.

Shop Direct sells merchandise online and through catalogs under several banners. Some of its brands include Very.co.uk, Littlewoods, isme, Woolworths.co.uk, Brandquarter and Very.com.

It operates in the UK, Ireland, Hong Kong, China, Thailand, India and Bangladesh.