Member Article

Further Comet closures as no buyer comes forward

A further 125 Comet stores are to be closed say administrators, as they fail to find an offer for the business.

The closures will leave approximately 70 stores which will remain open until all of the remaining stock is sold.

Deloitte say the company’s support functions at Rickmansworth, Hull and Clevedon will be further reduced at the same time.

Joint administrator, Chris Farrington, commented: “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 Joint Administrators are consulting with employees at the Harlow distribution centre with a proposal to close the site on Friday November 30.

Chris added: “We remain extremely grateful to the Company’s employees for their commitment and support during a period of concern and anxiety for them. All employees will be paid for the work they do while the Company is in administration and I can confirm that any accrued holiday pay, overtime and bonus earned during the Administration trading period, together with the pre-Administration bonus that was owed to employees at the time of our appointment, will be paid to employees as previously stated.

“A dedicated helpline is in place for all employees and the Company is running an Employee Assistance Programme to help those staff made redundant find other jobs. As part of this programme, the Company has established relationships with more than 35 prospective employers who are keen to offer roles to ex-Comet employees, and is actively working to introduce redundant Comet employees to these employers.

“We will also be organising a series of employment fairs around the country during the New Year to assist any Comet staff who have been made redundant and remain out of work.”

This was posted in Bdaily's Members' News section by Tom Keighley .