This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

Bookmark Email Print page

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.

Ends

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.

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited

Media contacts

Name:
James Igoe
Company:
Deloitte LLP
Job Title:
Phone:
+44 (0) 20 7303 8247
Email
jigoe@deloitte.co.uk
Name:
Jamie Harley
Company:
Deloitte LLP
Job Title:
Head of Media Relations
Phone:
+44 (0) 20 7303 5037
Email
jaharley@deloitte.co.uk

Share this page

Email this Send to LinkedIn Send to Facebook Tweet this More sharing options
Follow:

Get in touch

More on Deloitte