Deathwatch: Is the end nigh for Comet?

November 18th, 2012 5 Comments By Andy Dawson

retaildeathwatch Deathwatch: Is the end nigh for Comet?The inevitable is about to happen, with Comet’s administrators admitting that 41 stores will close their doors by the end of the month unless a buyer can be found.

That would still leave another 195 stores trading but it wouldn’t be a surprise if more store closures are announced over the next week or so as time starts to run out for the beleaguered electrical retailer.

Dixons and Maplins are said to have expressed an interest in buying some of the more profitable stores, but that is probably the best that the administrators can hope for.

Meanwhile, staff are calling for an investigation into the conduct of OpCapita, the private investment company which bought up the Comet chain for £2.00 last year.

Comments (5) Jump to most recent comment
  1. Posted by John McAfee - Hide and seek champion 2012 November 18, 2012 at 1:36 pm

    They weren’t really bought for £2.

    They were bought for £2 but that included OpCapita being given a £50 million return from Kesa, which they then loaded to Comet + interest.

    The whole thing is pretty fishy and as usual the administrators are the ones that profit

  2. Posted by Mr. Patel November 18, 2012 at 5:33 pm

    Happy now, BW?

  3. Posted by Sicknote November 18, 2012 at 6:03 pm

    End of Comet… shit Sherlock.

  4. Posted by crap November 18, 2012 at 11:54 pm

    old news

  5. Posted by Dick November 19, 2012 at 12:15 pm

    ^^ Comet have tonnes of shit. At massive discounts (10% off the RRP plus 10%).

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