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Firms aim to turn around fortunes

The collapse of several high-street retailers has highlighted the role of turnaround specialists

When UK electrical retailer Comet collapsed into administration last November, anger was directed at turnaround group OpCapita over the structure of its investment.

The group was widely criticised for providing little investment outside offering a £30m credit facility - which, according to two people with knowledge of the deal was barely used - while standing to receive about £50m from the sale of Comet's assets, given its status as a secured creditor.

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