Rob Donaldson, head of private equity at Baker Tilly has said that there is no one party to blame for the collapse of Comet, saying;
Was it doomed to fail from the start? Given the challenges this business faced, was the turnaround plan realistic? Revenues at this business were in free fall, margins were under pressure, lease obligations were onerous, did the turnaround plan have any real chance of success?
There are many architects of this failure. Kesa, Landlords, Credit Insurers, Management, Investors, Consumers. This is the reality of what happened here...there is no one party to blame.