Uncertain future for Comet stores

Comet, Halifax
Comet, Halifax

Staff at electrical store Comet on the Greenmount Retail Park in Halifax face an uncertain future as the chain enters administration.

The business is the latest high street casualty in recent years and follows Woolworths, JJB Sports, Clinton Cards and Peacocks.

The 240-chain has confimred plans for it to be placed into administration next week. Staff were informed yesterday and restructuring specialist Deloitte is expected to handle the administration and seek a buyer for the business.

The administration raises the prospect of a pre-Christmas rush for discounted stock, with the administrator expected to wind down supplies and raise cash for creditors.

Comet was bought for a nominal sum in February by investment firm OpCapita and it faced difficulties securing the trade credit insurance needed to safeguard suppliers.