Former Dixons chief John Clare is set to become chairman of Comet after the completion of the sale of Comet to holding company, OpCapita, today.

A spokesman for Comet commented that although Mr Clare will be chairman, he will have an active role in the company. Mr Clare himself said: “I can see a real opportunity. This is not doing a pre-pack or closing stores. This is about focusing on margin improvement, cost structure and management.”

After the sale of Comet last year for £2, there was an “investment cash injection” of £50 million from Kesa, Comet’s parent company, but recent reports claim that up to a further £15m could be added to this.

A spokesman for Comet said of the agreement that “should there have been any movement in the balance sheet from November, when the sale was first agreed to now, then Kesa will plug the gap”. He declined to give any further comment on figures.