Workers at beleaguered Oxfordshire-based electrical retail firm PowerHouse may keep their jobs, as the company that owns Argos and Homebase emerged as contenders to buy the chain.
PowerHouse, based in Talisman Business Park in Bicester, is due to close 93 of its 223 stores on August 29 after going into receivership. But the remaining stores and 2,200 jobs could be saved if a buyer can be found.
On August 25, it was announced that retail giant GUS could be interested, with Dixons and Comet owner Kesa Electrical also keen to buy some stores.
PowerHouse has outlets in Banbury, Bicester, Didcot and Witney.
Powerhouse was formerly owned by regional electricity companies Midlands, Southern and Eastern, and was bought out by its management in 1996.
Sales rose 25% to £399 million last year but post-tax profits fell to £300,000 from £5.2m a year earlier.
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