Administrators confirm intentions to close 41 Comet stores
19 November 2012
The Joint Administrators of Comet have today confirmed plans to close 41 Comet stores by the end of November, unless a buyer can be found for the business in the meantime. A closing down sale with increased discounts has, therefore, begun in 27 stores today (Saturday) and will begin in a further 14 stores early next week.
More generous discounts will also be applied to products across all of the other 195 Comet stores, which continue to trade as usual.
While the Administrators will look to redeploy staff from any stores which do face closure to other stores nearby, there will inevitably be redundancies. A dedicated employee helpline is in place and the Company is running an Employee Assistance Programme to help those staff made redundant find other jobs.
The Administrators continue to hold discussions with parties who have expressed interest in parts of the business. Regrettably, however, it is necessary to begin a store closure programme and an employee consultation process is underway.
Chris Farrington, Joint Administrator, added: “We are very grateful to the Company’s employees for their professionalism, loyalty and support at this difficult time and all employees will of course continue to be paid for all the work they do while the Company is in Administration.”
Neville Kahn, Nick Edwards and Chris Farrington of Deloitte, the business advisory firm, were appointed Joint Administrators to Comet, the electrical retailer, on Friday 2 November.
Notes to editors
A closing down sale has begun today at the following 27 stores: Aylesbury, Barnstaple, Barrow-in-Furness, Beckton, Birmingham Perry Bar, Brighton, Bury St Edmunds, Christchurch, Crawley, Falkirk, Glasgow - Great Western, Gloucester (St Oswalds), Guildford, Halifax, Harlow, Leeds - Crown Point, Luton, Margate, New Malden, Orpington, Rugby, Selly Oak, Sheffield - Drake House, Southend, Wrexham, Yeading and Yeovil.
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The information contained in this press release is correct at the time of going to press.
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