John Clare, who is due to be appointed Comet chairman tomorrow when OpCapita officially acquires it, has won the support of its major suppliers ahead the sale.
The former Dixon boss has met Comet’s key suppliers over the past few days, according to the Daily Telegraph, to gain support after trade credit insurers put the retailer “under review” following Kesa’s decision to sell the electrical chain.
Clare, who ran rival retailer Dixons for over 15 years, told the newspaper that its suppliers were supportive after he assured them that the review by trade insurers would have no short term effects on the business.
Comet hopes to resecure trade cover when it presents a revised business plan to its insurers at the end of the month.
Clare told the Telegraph that he plans to turn struggling Comet around. He said: “I can see a real opportunity. This is not about doing a pre-pack or closing stores. This is about focusing on margin improvement, cost structure and cash management”.
Despite becoming non-executive chairman Clare intends to spent at least three of four days a week at Comet until it is back on track.
No comments yet