The former backers of electricals retailer Comet will be paid £50m after the business crashed into administration last month.

A report to creditors due to be published today will set out returns to its turnaround backer, Hailey Acquisitions Limited.

Hailey was a vehicle put together by Comet’s private equity backer OpCapita. Hailey backers included hedge funds Greybull Capital and Elliot Advisors, said The Mail on Sunday.

Last year, Hailey bought Comet for £2 and was handed a £50m dowry by former owner Kesa to fund the turnaround. OpCapita has come under heavy criticism for its part in the downfall of Comet, because it will be the first creditor to be paid by administrator Deloitte as it put in its cash as a loan.

The report is expected to show that Hailey ploughed £144m into Comet in total and had been repaid £10m of its loans.

Hailey continues to own Comet’s warranties business. It is believed suppliers are likely to receive £40m due to holding ‘retention of title’ claims over their stock, which allows them to reclaim goods they advanced to Comet.

Deloitte will reveal that Comet lost £95m in the year to the end of April and a further £31m thereafter.

Meanwhile, hopes of rescuing Comet are starting to fade as more stores close. It is understood Deloitte is still in talks to thrash out a deal with potential white knight Clive Coombes, the property tycoon, while DRL and Shop Direct could be interested in the brand and the website.