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