Electricals chain Comet has been officially placed into administration.
Neville Kahn, joint administrator and restructuring services partner at Deloitte, said:
Our immediate priorities are to stabilise the business, fully assess its financial position, and begin an urgent process to seek a suitable buyer which would also preserve jobs.
In the meantime, all stores will continue to trade and all employees will continue to be paid.
We appreciate the co-operation and support from the management, staff, customers, landlords and suppliers at what is clearly a very difficult time.