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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.

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Comet gift vouchers suspended

Gift vouchers for stricken retailer Comet have been suspended, the chain's administrator said.

Comet gift vouchers have been suspended. Credit: Andrew Milligan/PA Wire

Deloitte, which was appointed yesterday, has launched an "urgent" search for a buyer to protect around 6,600 jobs at the 236-outlet chain.

The Comet stores will remain open and staff will continue to be paid in the meantime.

The collapse of Comet marks one of the biggest high street casualties since the demise of Woolworths in 2008 and comes a month after the failure of JJB Sports.

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