Carmelite was founded in 1998 when the Japanese investment bank Nomura paid £980m for the UK business of Thorn-EMI, which comprised two high-street chains, Radio Rentals and Crazy George’s, which rent and sell TVs, videos, HiFis and other electronic goods. A year later Carmelite sold half of Radio Rentals to Granada for £380m, which rebranded the 180 store chain as Box Clever. Combined with the 99 outlets of Crazy George’s, Carmelite reported sales of £448m in 2001 when it employed 2,452 people.

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Company details
ActivityHousehold goods retailer
Sales £m448
Profit £m6
Year endMar 01
Principal shareholdersTerra Firma (Nomura)

If applicable:

* Supplied by company † Annualised figure