Taxpayer may face £24m Comet bill over staff payments

The collapse of stricken electrical chain Comet has left the taxpayer looking set to face a bill of at least £24 million, according to The Sunday Times.

Deloitte is set to publish a report on the collapsed retailer Comet on Monday
Deloitte is set to publish a report on the collapsed retailer Comet on Monday Credit: Andrew Parsons/PA Archive

A report from Comet's administrator, Deloitte, is likely to indicate that insufficient funds have been raised to pay 6,000 members of staff redundancy payments totalling £24 million.

The report suggests the Government will "probably" have to step in to ensure workers receive a payout.

Advertisement

Cable calls for Comet inquiry

The Business Department confirmed that Vince Cable has called an investigation into Comet in a bid to find out why the firm ended up going out of business and the circumstances around the purchase of the company by a private equity firm last year.