News

Carphone Warehouse delighted the City today by regaining full control of its High Street business from US giant Best Buy, paying less than half of what it received for the stake in 2008.

Kesa offloads Comet for just £2 to OpCapita

Kesa Electricals has sold Comet to the private investment firm OpCapita for a nominal fee of just £2. But the parent company was forced to pump £50m into the loss-making UK electricals chain and retain its pension liabilities to get rid of Comet.

David Prosser: Comet's new owner is going to need some box of tricks to pull this challenge off

Outlook Best of luck to OpCapita, the new owner of the Comet electricals chain. It is certainly going to need it, for despite having some advantages compared with Kesa, the seller of Comet, this is the worst possible moment to be attempting to rescuea retailer.

Kesa Electricals sells struggling 'Comet' for £2

Struggling electricals chain Comet was today sold for a token £2 after its owner Kesa Electricals called time on the loss-making business.

Rude awakening from Best Buy's big dream

The US electricals giant is closing 11 UK stores after being hit by a lethal combination of tough conditions and poor timing

David Prosser: The cloud at Best Buy Europe comes witha silver lining forCarphone Warehouse

Outlook: Courage to face failure is a key attribute for all entrepreneurs, Carphone's Charles Dunstone included

1,000 jobs at risk in Carphone Warehouse move

More than 1,000 jobs were in jeopardy today after a push by Carphone Warehouse and America's Best Buy to crack the UK electronics market ended in failure.

Carphone Warehouse to close BestBuy UK

Carphone Warehouse is understood to be set to close the failed "Big Box" Best Buy stores in the UK, with the announcement expected at its financial results this week.

Poor UK sales pull down Carphone

Carphone Warehouse suffered more bad news in the UK as it revealed that its domestic performance had dragged down its European sales.

Errors & Omissions: Somewhere in the mush is the meaning – and it's getting harder to find

Sometimes the language seems to be turning to mush before your eyes.

Comet's slide into the red forces Kesa to ready the for-sale sign

Kesa Electricals has admitted for the first time that it is considering selling off its Comet chain after the British company sank to a loss of nearly £9m last year.

Only geeks work at Best Buy: electronics giant sues over label

Careful who you call a "geek." It might get you sued. The US retailer Best Buy, which is renowned in roughly equal measure for selling cheap electronics and providing patchy customer service, is claiming legal ownership of the well-worn term of abuse.

Electronics giant annexes use of the former insult 'geek'

By Guy Adamsin Los Angeles

Carphone's Best Buy deal at risk as losses rise

Carphone Warehouse's foray into "Big Box" stores through its Best Buy UK partnership has been thrown into doubt after losses surged and managers admitted they were "evaluating" the future of the chain.

HMV's bank masters give it more time

The retailer has two more years, but lenders have it 'over a barrel' and the pressure is on
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