Comet and Best Buy hit by economic downturn

摘要

Comet And Best Buy are the latest retailers to fall victim to the harsh economic climate. Comet is to be sold for £2 by its parent company, the Anglo-French electrical goods retailer Kesa. The revenues of the retailer which has been a fixture on the high street since it was founded in 1933 crashed by 22 per cent over the summer. The news of this sale to investment group Hailey came two days after it was announced that Carphone Warehouse is pulling out of the joint venture with US retailer Best Buy and closing all 11 of its Best Buy stores in the UK.