Kesa sells loss-making Comet for £2

Struggling electricals chain Comet has been sold for a token £2 after its owner Kesa Electricals called time on the loss-making business.

Comet, which operates 248 stores and has about 10,000 staff in the UK, will be taken over by retail turnaround firm OpCapita in a deal which will see Kesa pump £50 million into the business and take on the firm's pension scheme.