It’s been a while since a private equity firm got the sort of media savaging inflicted on UK turnaround group OpCapita recently, following the collapse of its portfolio company Comet. An electrical retail chain that has been around in the UK since 1933, Comet fell into administration in November, putting some 7,000 jobs at risk.
This may or may not be true. But if you’re a turnaround specialist who has raised a fund or built a reputation based on the way things currently work, the idea that politicians might suddenly bow to popular pressure and move the goalposts is a little scary. And while the general public might not care too much about the finer feelings of Jackson et al, they might care if there’s nobody around to try and save the Comets of the future.