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.
This profile reflects the company at time of publication and does not reflect any changes that may have subsequently occurred. Fast Track and its sponsors do not endorse, guarantee or recommend investment in any of the companies.