Wednesday, November 28, 2012

125 more Comet stores to close by Christmas


Another 125 Comet stores are set to face the axe next month, administrators of the electrical chain announced today.

Comet's administrators have failed to secure a firm offer for the business
Comet's administrators have failed to secure a firm offer for the business


Deloitte said that as it had not received a firm offer for the business it was having to plan for a substantial number of additional closures in the run-up to Christmas.

The news comes just days after the administrators revealed that 41 Comet outlets were to close by the end of this month if no buyer could be found. The business's distribution centre in Harlow will close on Friday.

Joint administrator at Deloitte Chris Farrington said: "We remain in discussions with a small number of interested parties and hope that a positive outcome can still be achieved.

"Should any acceptable offers be received for stores we will delay the closure process.

"Unfortunately, in the absence of a firm offer for the whole of the business, it has become necessary to begin making plans in case a sale is not concluded. If a sale is not possible we would envisage stores to begin closing in December."

The sole reported offer so far for any part of the Comet operation has been from Appliances Online for its website.


Source: DIYWEEK.net – essential reading for the DIY trade

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