How a trio of funds turned £2 into more than £100m

Elliott Advisors, OpCapita and Greybull Capital turned the token £2 price they had paid about eight years ago for the UK chain into more than £100m. Behind the scenes Deloitte’s master undertaker Neville Kahn (pictured below), who served as Comet’s administrator, was working with a vehicle set up by Comet’s investors called Hailey Acquisitions, an attempted pun on Halley’s Comet — bankruptcies are nothing if not funny. The vehicle was set up for the purpose of buying Comet from its French owner Kesa Electricals.