Former Dixons chief executive John Clare is advising private equity firm OpCapita on its potential takeover of number two electricals retailer Comet, it is understood.
He would be reunited with David Hamid, an OpCapita partner who formerly worked for Dixons and is working on the acquisition of Comet.
Loss-making Comet, which has 249 stores, was put up for sale by parent Kesa earlier this year amid torrid electricals retailing conditions which have also hit performance at Dixons.
As well as OpCapita, restructuring specialist Hilco has cast its slide-rule over Comet.
However progress on a sale has been slow as aspects such as the size of dowry expected by would-be buyers hindered discussions.
It had been hoped that a deal might be concluded by the time of Kesa’s AGM last month. Kesa chiefs have indicated that there should be clarity on Comet’s future by Christmas.