BusinessBusiness RecoveryDeloitte administrators to close 41 Comet stores

Deloitte administrators to close 41 Comet stores

Administrators say redundancies “inevitable”, and set up employee assistance programme and hotline

DELOITTE ADMINISTRATORS are to close 41 stores by the end of the month at collapsed electrical retailer Comet.

Neville Kahn, Nick Edwards and Chris Farrington, all from Deloitte, have been appointed joint administrators of the retailer, which is headquartered in Rickmansworth.

Comet operates out of 236 stores and employs 6,611 full- and part-time staff, which is equivalent to 4,683 full-time staff.

The administrators are are holding sales in all the Comet stores and redeploying staff from the closing shops where necessary. However, the administrators said it was inevitable that redundancies will take place.

Closing down sales have begun in 27 stores – if no buyer is found, then a further 14 stores will begin a closing down sale later this week.

A dedicated employee helpline has been set up and an employee assistance programme to help staff made redundant find other jobs has been created. 

Farrington said: “We are very grateful to the company’s employees for their professionalism, loyalty and support at this difficult time and all employees will of course continue to be paid for all the work they do while the company is in administration.”

Related Articles

How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4w Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

1m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

1m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

2m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

2m Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3m Emma Smith, Managing Editor
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

8m Emma Smith, Managing Editor
Kingston Smith liquidators to distribute millions to Bond International Software PLC members

Accounting Firms Kingston Smith liquidators to distribute millions to Bond International Software PLC members

1y Stephanie Wix, Writer