Tempo (retailer)

Tempo was a British electrical retailer based in Tolworth, Surrey.[1]

In 1997, Tempo was Britain's fifth biggest electrical retailer and it had 29 stores in London and the South-east.[2]

The chain made operating profits of pounds 2.9m on sales of pounds 85.7m in the year to the end of June 1996.[2]

In 2001, the group had 37 stores, 800-plus employees and an annual turnover of around £150 million.[1]

History

Tempo was founded in the early 1970s by Gerald Kraftman's and remained family controlled.[2]

In 1992, venture capital group 3i invested pounds 3.25m for a 23.5 per cent stake to fund expansion into electrical superstores, offering computers alongside traditional TV, hi-fi and kitchen electricals, including washing machines and fridges.[2]

In September 2001, Tempo went into administration.[1][3]

References

  1. ↑ 1.0 1.1 1.2 Robert Blincoe (28 September 2001). "Tempo in administration". The Register. Retrieved 12 November 2014.
  2. ↑ 2.0 2.1 2.2 2.3 Paul Farrelly (January 5, 1997). "Tempo looks at float to finance stores". The Independent. Retrieved November 12, 2014.
  3. ↑ http://www.pcadvisor.co.uk/news/desktop-pc/1567/tempo-goes-into-administration/