R E L A T E D   C O N T E N T
ADVERTISEMENT

Powerhouse likely to be broken up

Adriana Zea, Accountancy Age 29 Aug 2003

Beleaguered electrical retailer Powerhouse is likely to be sold in parts rather than as a going concern according to analysts.

ADVERTISEMENT
Link: UK electrical goods giant calls in receivers

The UK's third biggest electrical retailer, which went into receivership last week, has received several expressions of interest, according to receivers at Deloitte & Touche.

It is understood that possible buyers include catalogue chain Argos and electrical goods retailer Dixons.

Although the administrators are looking to sell the company as a going concern, the analysts say the buyers are more likely to try buying it in parts.

Mintel analyst Richard Perks told the BBC: 'I think it will be split up. I don't think anyone will want to take it as an ongoing concern.

'Its stores on the whole are too small for electrical retailing, which is why I wouldn't expect to see Comet or Currys take too many of them.'

So far, the receivers have closed almost half of its 223 stores and made at least 800 redundancies

M A R K E T P L A C E
V-SOL: Supply Premium Vehicle Tracking Systems to MOD, TRansport for LONDON and EDF-CHANNEL RELEASE!
Expert Buyers is the UKs Leading No Savings No Fee IT Procurement Service. Claim your Free Audit Now
WAN based, automated, daily vulnerability assessments. Click here to try and request our whitepapers.
As recognised by the Accountancy Age Awards 2004, 2005 and 2006.
Online Time & Attendance Tracking 30 Day Free Trial ( $49 a year )
Have your product or service listed here >   
London, United Kingdom | British Heart Foundation
Project Accountant, London, c£35,000   The vision of the British Heart Foundation is of a world in which people do not die prematurely of heart disease. Are you motivated, dynamic and keen to contribute? The ... more >
Cambridge, United Kingdom | Jardine Motors
Divisional Financial Controller, Cambridge, Circa £60,000, fully expensed executive car, life assurance, pension and family health coverPut your career in top gear At Jardine Motors Group we pride ourselves in our policy of providing the ... more >
South East, Isle of Wight, United Kingdom | Pearl Centre Holdings
Pearl Centre Holdings is an established, family-owned business in the retail and leisure sector and seeking to recruit a Group FC based on the Isle of Wight. Reporting into the Directors of the business, Group ... more >
Hertfordshire, United Kingdom | Nicholsons Chartered Accountants
Competent, graduate, qualified accountant required to work as PA to partner in small, busy firm of chartered accountants based in quiet offices close to Welwyn Garden City. Varied work with interesting clients.  Practice experience essentialKnowledge ... more >
More Jobs in Finance

Job zone
Job of the week
Related jobs
Search for a job
 
Try our Advanced search