Collapsed Bennetts could be sold this week

A sale of the beleaguered East Anglian electrical chain Bennetts could be completed this week.

Collapsed Bennetts could be sold this week

The company, which has 16 branches, went into administration earlier this month. All stores were closed and 228 employees made redundant, with just 57 retained for duties such as stocktaking.

However, administrators PKF say they have received interest from a number of potential buyers and that they are now in discussions with a preferred bidder.

Unconfirmed press reports suggest that the would-be buyer could be Hughes – a Lowestoft-based electronics retailer – or Comet. And a consortium of directors and managers at Bennetts has also put itself forward to take over the company. It says that if successful it would re-employ most of the existing staff, although a number of under-performing outlets would remain closed.

Bennetts was continuing to expand until very recently, opening a new superstore in Kings Lynn just a few months ago. However, the business has been hit by tough trading conditions, and the withdrawal of support by a credit insurer.

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