Now Comet is looking to flog off 22 of its stores

10 June 2011

retail deathwatch Things have been looking proper dodgy for Comet lately and now the beleaguered electrical retailer is looking to sell off 22 of its stores in a bid to chop away at its rental expenditure.

The Financial Times is reporting that a list of the 22 stores has been circulated to other retailers. The list is said to include prime spots such as Manchester’s Trafford Park, Reading’s Forbury Road and Edinburgh’s Maybury Retail Park.

If Comet are successful in offloading the stores, it could wipe £5m off their annual rent bill. Some chin-stroking analysts are suggesting that it could be the beginning of the end for Comet, with their parent company Kesa keen to concentrate on their profitable Darty chain in France and ditch its UK counterpart, like it’s some kind of unwelcome hanger-on during an otherwise-great day out.

new comet logoAs for who will swoop and take over the 22 listed stores, that is another matter altogether. Dixons has said that it isn’t interested in acquiring any Comet stores and the FT suggests that the stores are too small to fit in with Best Buy’s plans for massive retail spots.

Comet then – we say enjoy it while you can.

TOPICS:   Gadgets   High Street News


  • Jamie
    Cant beleive Comet would think Dixons would want to help comet out buy buying stores of them. No wonder their in so much trouble.
  • callum
    Do you understand business? It wouldn't be to "help out Comet", it would be to help themselves by expanding their retail presence... It's really not an unusual thing to happen.
  • jamie
    there only talking about selling 22 stores at the moment. its giving comet capital to use within their remaining 230 stores if they did buy and is probably why dixons have said they are not interested also alot of their stores are smaller or are near or next to a currys or pc world anyway. it would not make sense to move, however i do see what you are saying and yes i do understand business
  • Mark H.
    This isn't really new news. Comet said they were selling stores off a few weeks ago in order to save costs. They aren't done for just yet.
  • Spanks
    Dont suppose it matters there is no such place as Maybury retail park in Edinburgh, maybe if Comet ran store in real locations they would not be so fucked
  • q#bert
    @Mark H - Comet actually said they would close 5-10 stores as leases are up within the business year, not sell off 22 stores.
  • one y.
    @q#bert . Comet are circulating this list of 22 ADDITIONAL stores it wishes to dispose of as well as those that come to the end of their lease (5-10 per year). They may not be dead yet but they are certainly drawing their final breaths. @ Bitterwallet, why not do some REAL research and get your hands on the list of 22 stores and publish it rather than just copying and pasting stuff from other better informed sources?

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