Comet administrator outlines immediate priorities

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.

Advertisement

3000 Comet job losses expected

Administrators for the electrical retail chain Comet has announced 125 store closures, which is expected to trigger around 3,000 job losses. Around 330 jobs have been gone today.