OpCapita submits large bid for struggling chain

Private equity group OpCapita submitted a bid requesting a large dowry and access to working capital for struggling electrical chain Comet on Friday.

Comet, which has 250 stores in the UK, was put up for sale earlier this year by the French group Kesa. Second-round bids were due on Friday but due to a huge pension liability and falling sales many bidders were deterred. It is thought the deadline will be extended into this week.