The owner of Comet, which spectacularly collapsed last November with the loss of over 6,000 jobs, is to walk away with £117m.
At the end of 2011 private equity firm OpCapita acquired the ailing electricals chain, along with a £50m dowry, from then owner Kesa for just £2. The vehicle used to do the deal was Hailey Acquisitions Ltd (HAL), whose accounts now show that 48 hours before Comet went into administration it acquired a £30m loan from PNC Financial Services to fund the retailer.

Last December it also emerged that over a nine-month period HAL had charged the loss-making Comet £11.5m in interest on loans and arrangement payments while OpCapita and another Hailey vehicle collected £1.3m-worth of 'quarterly monitoring fees'.

Read more on this story in this week's DIY Week magazine - out October 18.