Huntingdon Comet at risk after retailer announces plans to enter administration
STAFF at Comet in Huntingdon will learn their fate next week when the business is placed into administration.
The electrical store chain announced today that Deloitte has been lined up as administrators.
The 6,500 members of staff employed by Comet were told of the plans this morning.
Comet said it was “urgently working” on plans to secure the company’s future and it is expected that administrators will seek a buyer for the business.
Customers with outstanding orders and those with gift cards and vouchers are being told it is business as usual until further notice and that the group intends to fulfil deliveries of products that have been paid for.
You may also want to watch:
Investment firm OpCapita bought Comet, which has 240 stores, in February for �2 but has been unable to secure trade credit insurance needed to safeguard suppliers.
The rise in Internet shopping is blamed for the decline in Comet sales.
- 1 Numerous Huntingdon High Street shops shut due to flooding
- 2 Shocks all round as police pull over 'white van man'
- 3 Seven men jailed for stealing bikes worth £70k
- 4 Man who burgled his own father’s home is sentenced
- 5 Father-of-five murdered due to 'drug deal dispute gone wrong'
- 6 Axe seized and two people charged for drink driving in St Ives
- 7 'Trolley waits' hit high for trust that oversees Hinchingbrooke Hospital
- 8 Man charged after knife found in St Neots police raid
- 9 WATCH: Flying Scotsman steams through Cambridgeshire Fens
- 10 Diners at St Ives pub help raise £8k for hospitality charity